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: EB (Click the icon to view the budgeted costs and activity bases.) East Horizon expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,200 parts, require 25 setups, and consume 2,300 hours of finishing time. Job 420 used 250 parts, required 5 setups, and consumed 130 finishing hours. Job 510 used 400 parts, required 6 setups, and consumed 320 finishing hours. 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 Requirements 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. Print Done Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. allocation rate Total activity allocation base Total activity overhead (est.) Total assets Total hours Total liabilities Total owners' equity Total plantwide overhead hoose from any Total revenues ck Answer. Clear Al Che Data Table Total Budgeted Manufacturing Overhead Cost Activity Materials handling Machine setup Insertion of parts Finishing lexiosll . . . Allocation Base $ 6,400Number of parts 9,000 Number of setups Number of parts Finishing direct labor hours 54,400 89,700 $ 159,500 Print Done