Budgeted costs and activity bases Total Budgeted Manufacturing Activity Overhead Cost Allocation Base Materials handling $ 6,400 Number of parts Machine set-up 9,000 Number of set-ups Insertion of parts 54,400 Number of parts 89,700 Finishing Finishing direct labour hours $ 159,500 Total Print Done Bancroft Inc. 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 set-up, insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as follows: i (Click the icon to view the budgeted costs and activity bases.) Bancroft Inc. expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,200 parts, require 25 set-ups, and consume 2,300 hours of finishing time. Job 420 used 275 parts, required 5 set-ups, and consumed 190 finishing hours. Job 510 used 575 parts, required 6 set-ups, and consumed 340 finishing hours. Requirements Requirement 1. Compute the cost allocation rate for each activity. First, identify the formula, and then compute the rate for each activity. II Activity overhead rate part Mat. handling Machine setup Insertion Finishing Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420. II II /setup / part / hour Activity Materials handling MOH Cost Materials handling Machine setup Insertion of parts Finishing Total Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510. Activity Materials handling Machine setup Insertion of parts Finishing Total MOH Cost Choose from any list or enter any number in the input fields and then continue to the next