Franklin Company uses ABC to account for its chrome Franklin Contpany expects to produce 1,000 wheel manufacturing process. Company managers have chrome wheels during the year. The wheels are identified four manufacturing activities that incur expected to use 3,300 parts, require 20 setups, manufacturing overhead costs: materials handling. and consume 2,100 hours of finishing time. machine setup, insertion of parts, and finishing. The (Click the icon for completed job data.) budgeted activity costs for the upcoming year and their allocation bases are as follows: Read the requirements. (Click the icon to view the data.) Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Requirements 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. Job 420 used 200 parts, required 4 setups, and consumed 100 finishing hours. Job 510 used 500 parts, required 6 setups, and consumed 310 finishing hours