Farragut Company uses ABC to account for its Farragut Company expects to produce 1,000 chrome chrome wheel manufacturing process. Company wheels during the year. The wheels are expected to managers have identified four manufacturing use 2,800 parts, require 20 setups, and consume activities that incur manufacturing overhead costs: 2,200 hours of finishing time. materials handling, machine setup, insertion of parts. (Click the icon for completed job data.) and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as Read the requirements. follows: (Click the icon to view the data.) Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity Total activity overhead (est.) Mat. handling $ 5,600 Mach setup $ 6,400 Insertion 39,200 Finishing 96,800 Activity cost Total activity allocation base allocation rate 2,800 = $ 2 per part 20 - $ 320 per setup 2,800 14 per part 2,200 $ 44 per hour ni Danman nmnd the monitoring in handent that child ha neinni lah n Total Budgeted Manufacturing Overhead Cost Activity Allocation Base Materials handling $ Machine setup Insertion of parts bs 5,600 Number of parts 6,400 Number of setups 39,200 Number of parts 96,800 Finishing direct labor hours 148,000 ra nal Finishing ar $ S Total etu i More Info - X Job 420 used 250 parts, required 5 setups, and consumed 150 finishing hours. Job 510 used 500 parts, required 6 setups, and consumed 310 finishing hours. Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420. MOH Cost Activity Materials handling Machine setup Insertion of parts Finishing Total Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510. Activity MOH Cost Materials handling Machine setup Insertion of parts Finishing Total