Fortunado Company uses ABC to account for its chrome wheel manufacturing process. Fortunado Company expects to produce 1,000 chrome wheels during the year. The Company managers have identified four manufacturing activities that incur manufacturing wheels are expected to use 3,200 parts, require 25 setups, and consume 2,300 hours of overhead costs: materials handling, machine setup, insertion of parts, and finishing. The finishing time. budgeted activity costs for the upcoming year and their allocation bases are as follows: (i) (Click the icon for completed job data.) Wit (Click the icon to view the 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. Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420 . More info Job 420 used 300 parts, required 5 setups, and consumed 100 finishing hours. Job 510 used 450 parts, required 6 setups, and consumed 310 finishing hours. Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510