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 3,000 parts, require 20 setups, and consume 2,000 hours of finishing time. (Click the icon for completed job data.) Read the requirements. Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Activity cost allocation rate