Fortunado Company uses ABC to account for its chrome wheel manufacturing process. Company Fortunado Company expects to produce 1,000 chrome wheels during the year. The managers have identified four manufacturing activities that incur manufacturing overhead costs: wheels are expected to use 2,600 parts, require 15 setups, and consume 1,600 hours of materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs finishing time. for the upcoming year and their allocation bases are as follows: (Click the icon for completed job data.) (Click the icon to view the data.) Read the ranuiromente 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 . Data table Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Job 420 used 200 parts, required 3 setups, and consumed 120 finishing hours. Job 510 used 475 parts, required 4 setups, and consumed 350 finishing hours. Fortunado Company uses ABC to account for its chrome wheel manufacturing process. Company Fortunado Company expects to produce 1,000 chrome wheels during the year. The managers have identified four manufacturing activities that incur manufacturing overhead costs: wheels are expected to use 2,600 parts, require 15 setups, and consume 1,600 hours of materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs finishing time. for the upcoming year and their allocation bases are as follows: (Click the icon for completed job data.) (Click the icon to view the data.) Read the ranuiromente 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 . Data table Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Job 420 used 200 parts, required 3 setups, and consumed 120 finishing hours. Job 510 used 475 parts, required 4 setups, and consumed 350 finishing hours