Frederick 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: (Click the icon to view the data.) Frederick 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. (Click the icon for completed job data.) 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 Data table + Total Budgeted Activity Manufacturing Overhead Cost Allocation Base Materials handling... $ 13,000 Number of parts More Info Machine setup 5,700 Number of setups Insertion of parts Finishing. Total.. 33,800 Number of parts $ 56,000 108,500 Finishing direct labor hours. allocation rate More info Job 420 used 300 parts, required 4 setups, and consumed 100 finishing hours. Job 510 used 500 parts, required 6 setups, and consumed 340 finishing hours. Print Done - X 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.