Farragut Company uses ABC to account for its chrome wheel manufacturing process. Farragut Company expects to produce 1,000 chrome wheels during the year. The wheels are Company managers have identified four manufacturing activities that incur manufacturing expected to use 3.100 parts, require 25 setups, and consume 2.400 hours of finishing time. overhead costs materials handing machine setup, Insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their location bases are as folows: Click the icon for completed job data) (Click the icon to view the data) Read the recements Requirement 1. Compute the cont allocation rate for each activity. First identity the formula, then compute the rate for each activity Activity cost Total activity overhead (est) Total activity allocation base allocation rate Mat. handling $ 15,500 3.100 per part Mach setup $ 7.000 4 1750 per setup Enter any number in the edit fields and then click Check Answer. 4 parts its nufa e se ar al i Data Table - X onra ead (@ Activity Materials handling Machine setup Insertion of parts ... Finishing Total Budgeted Manufacturing Overhead Cost Allocation Base $ 15,500 Number of parts 7,000 Number of setups 49,600 Number of parts 91,200 Finishing direct labor hours $ 163,300 Total $ then Print Done ear and their allocation bases are as follows: completed job data.) More Info * More Info - tion ra head (@ 0 Job 420 used 250 parts, required 4 setups, and consumed 140 finishing hours. Job 510 used 475 parts, required 6 setups, and consumed 330 finishing hours. Print Done Requirements - allocation overhea 15,500 7,000 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