Central Plain 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. The budgeted activity costs for the upcoming year and their allocation bases are as follows: (Click the icon to view the data) Central Plain expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,300 parts, require 20 setups, and consume 2,100 hours of finishing time. (Click the icon for completed job data.) Daad the raniamante Requirement 1. Compute the cost allocation rate for each activity. First identity the formula, then compute the rate for each activity. Total activity allocation base Total activity overhead (est.) Total assets Total hours Total liabilities Total owoers' equity Total plantwide overhead Total revenues Activity cost allocation rate More info Data table 2 3 Job 420 used 150 parts, required 3 setups, and consumed 110 finishing hours. Job 510 used 500 parts, required 5 setups, and consumed 310 finishing hours. Activity on 41 won 5 Materials handling.....5 Machine setup. Insertion of parts. Finishing. Total. Total Budgeted Manufacturing Overhead Cost Allocation Base 13,200 Number of parts 5,200 Number of setups 40.500 Number of parts 80,100 Finishing direct labor hours 154.000 X 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.