Farraway Company 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.) Farraway Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,300 parts, require 20 setups, and consume 2,100 hours of finishing time. (Click the icon for completed job data.) Read the requirements - X Reqy Data Table Requirements Mat. Total Budgeted Manufacturing Overhead Cost 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. Activity Allocation Base Mac Materials handling $ 13,200 Number of parts Inse Machine setup Finis Insertion of parts 5,200 Number of setups 49,500 Number of parts 86,100 Finishing direct labor hours 154,000 Print Done Reqy Finishing $ Total... TVITE TITO Mate Mac Insel Print Done Job 420 used 200 parts, required 2 setups, and consumed 150 finishing hours. Job 510 used 400 parts, required 4 setups, and consumed 320 finishing hours. Finis Tota Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 Print Done Activity MOH Cost Windows yen Farraway Company 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.) Farraway Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,300 parts, require 20 setups, and consume 2,100 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 per part Mat handling Mach setup per setup Insertion per part Finishing per hour 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 Total Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510. MOH Cost Activity Materials handling Machine setup Insertion of parts Finishing Total