1) The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an activity-based costing system to allocate all manufacturing conversion costs. Each chair consists of 10 separate parts totaling $145 in direct materials, and requires 6.0 hours of machine time to produce. Additional information follows: Allocation Base Number of parts Machine hours Number of parts Number of finished units Cost Allocation Rate Activity Materials handling Machining Assembling Packaging 53.75 per part $3,00 per machine hour S0.50 per part $4.75 per finished unit What is the cost of manufacturing each chair? (5 points) (Conversion includes both DL & MOH)