1. Which set of items below are current assets? Accounts receivable, net income, inventory, and dividends Cash, accounts receivable, capital stock, and sales Net income, cash, office supplies, and inventory d. Cash, accounts receivable, inventory, and office supplies.
2. Parsons Company makes calendars. Information on cost per unit is as follows: Direct materials $4.80 Direct labor $2.80 Variable overhead $2.50 Variable marketing expense $2.00 Fixed marketing expense totaled $29,000 and fixed administrative expense totaled $99,000. The price per calendar is $19. What is the contribution margin ratio?