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: B(Click the icon to view the budgeted costs and activity bases.) Frankin Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,300 parts, require 20 setups, and consume 2,100 hours of finishing time. Job 420 used 200 parts, required 4 setups, and consumed 120 finishing hours Job 510 used 475 parts, required 6 setups, and consumed 300 finishing hours Read the renuirements 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 per part Mat. handling Choose from any list or enter any number in the input fields and then continue to the next question Total Budgeted Manufacturing Overhead Cost Allocation Base Activity Number of parts Materials handling 13,200 $ Number of setups 5.200 Machine setup Insertion of parts Number of parts 49,500 86,100 Finishing direct labor hours Finishing. $ 154,000 Total 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