Farrington Company uses ABC to account for its chrome wheel manufacturing process. Company managers have identfied four manuficturing activities that incur manufacturing overhead costs Farrington Compary expects to produce 1,000 ehrome wheels during the year The materials handing. machine setup, insertion of parts, and finlshing. The budgeted activity costs whoels are expected to use 3,200 pars, require 25 setupt, and consume 2,300 hours of finishing time. for the upcoming year and their alocation bases are as foliows (Click the icon to viow the data.) Click the icon for completed joh data) Requirement 1. Compute the cost allocation rate for each activily. Firti identiy the formula, then compute the rate for each activity. Requirement 2. Compute the manulacturing overheod cost that should be assigned to Job 420 . Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Data table More info Job 420 used 250 parts, required 3 setups, and consumed 120 finishing hours. Job 510 used 400 parts, required 4 setups, and consumed 350 finishing hours