East Horizon 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.) East Horizon expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,000 parts, require 10 setups and consume 1,500 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 - Data table Requirements Activity Materials handling. Machine setup Total Budgeted Manufacturing Overhead Cost Allocation Base S 9,000 Number of parts 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. Insertion of parts 3,500 Number of setups 45,000 Number of parts 78,000 Finishing direct labor hours 135,500 Finishing .. Total