Frederick Companyes A lo account for its chrome wheel malecturing process Company managers have identified for manufacturing activities that incur manufacturing overhead costs materials handing machine setup. Intion of parts and finding the budgeted activity costs for the upcoming year and the allocation bases are as follows Cick the icon to view the budgeted costs and activity bases) Frederick Company expects to produce 1,000 chrome wheels during the year. The wheels we expected to use 3.300 parts require 20 setups and consume 2,100 hours of finishing time Job 420 used 300 parts required 3 setups, and consumed 140 finishing hours Job 510 475 parts required 6 setups, and consumed finishing hours Read the res t Requirement 1. Compute the cost allocation rate for each activity First identity the formula then compute there for each activity Frederick Company uses ABC to account for its chrome wheel manufacturing process Company managers have identified four manufacturing activities that incur marwacturing overhead costs materials handling, machine selip. insertion of parts, and finishing the budgeted actively costs for the upcoming year and their allocation bases are as follows IT (Click the icon to view the budgeted costs and activity bases) Frederick Company expects to produce 1000 chrom wheels during the year. The wheels are expected to use 3,00 parts require 20 setups, and consume 2.100 hours of finishing time Job 420 used 300 parts, required 3 setups, and consumed 140 finishing hours Job 510 used 475 parts, required setups, and consumed 320 fishing hours 1 Data Table Read the requirements Hequirement 1. Compute the cost location rate for each activity. First only the formula then com e rate for each activity 0 Requirements Allocation Base Activity Material handling Machine setup Insertion of parts Total Budgeted Manufacturing Overhead Cost $ 1.200 5200 49.500 86.100 Number of parts Number of setups Number of parts 1. Compute the cost alocation 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 Finishing direct labor hours $154000 Choose from any drop-downlist Print Done 6. Print Done