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 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.) Data table Requirements 11) 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 . Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420 . Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Job 420 used 200 parts, required 3 setups, and consumed 130 finishing hours. Job 510 used 400 parts, required 4 setups, and consumed 330 finishing hours