Fortunado, Inc. uses activity-based costing to account for its chrome bumper manufacturing process. Company managers have identified four manufacturing activities: materials handling, machine setup. insertion of parts, and finishing. The budgeted activity costs for 2018 and their allocation bases are as follows: (Click the icon to view the budgeted costs and activity bases.) Read the requirements Requirement 1. Compute the predetermined overhead allocation rate for each activity. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate for each activity. (Round your answers to the nearest cent.) Predetermined OH Estimated overhead costs Estimated qty of the allocation base = allocation rate Materials handling + Data Table Total Budgeted Activity Cost Allocation Base Materials handling $ 15.000 Number of parts Machine setup 2,300 Number of setups Insertion of parts 51,000 Number of parts Finishing 69,000 Finishing direct labor hours 137,300 Total Fortunado expects to produce 500 chrome bumpers during the year. The bumpers are expected to use 2,500 parts, require 5 setups, and consume 1,000 hours of finishing time Enter any number in the edit fields and then clic! Print Done ? parts remaining Clear All Check