Additional information Franklin Company uses ABC to account for its chrome wheel manufacturing process. Company managers have identified four manufacturing activities that incur manufacturing overhead costs: materials handling, machine setup, insertion of parts, and finishing. View additional information. Read the requirements. Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Requirements = Activity cost allocation rate The budgeted activity costs for the upcoming year and their allocation bases are as follows: 1. Compute the cost allocation rate for each activity. 2. Compute the manufacturing overhead cost that should be assigned to Job 420. 3. Compute the manufacturing overhead cost that should be assigned to Job 510. Total Budgeted Activity Manufacturing Overhead Cost Allocation Base Materials handling.. $ 11,000 Number of parts Machine setup 3,600 Number of setups Insertion of parts 44,000 Number of parts Finishing.. $ 76,500 Finishing direct labor hours 135,100 Total... Franklin Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 2,750 parts, require 15 setups, and consume 1,700 hours of finishing time. Job 420 used 300 parts, required 5 setups, and consumed 130 finishing hours. Job 510 used 475 parts, required 6 setups, and consumed 340 finishing hours. Print Done