Franklin Company uses ABC to account for its chrome wheel manufacturing process. Company managers have identified four manufacturing activities that incur manufacturing overhead costs: materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as follows: E: (Click the icon to view the budgeted costs and activity bases.) Franklin Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 2,600 parts, require 15 setups, and consume 1,600 hours of finishing time. Job 420 used 250 parts, required 4 setups, and consumed 110 finishing hours. Job 510 used 425 parts, required 5 setups, and consumed 330 finishing hours. Read the requirements. Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. _ Activity cost allocation rate i Requirements - X 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. Print Done 2. Compute the manufacturing overhead cost that should be assigned to Job 420. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Job 420 Manufacturing overhead allocation Activity MOH assigned Materials handling Machine setup Insertion of parts Finishing Total 3. Compute the manufacturing overhead cost that should be assigned to Job 510. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Job 510 Manufacturing overhead allocation Activity MOH assigned Materials handling Machine setup Insertion of parts Finishing Total Data Table Activity Materials handling ... Machine setup ....... Insertion of parts .... Total Budgeted Manufacturing Overhead Cost $ 13,000 5,700 33,800 56,000 108,500 Allocation Base Number of parts Number of setups Number of parts Finishing direct labor hours Finishing ............ Total ... Toldi . . . . . . . . . . . . . Print Print Done Done