Mike inc, uses activity-based costing to account for its chrome bumper manufacturing process. Company managers have identified four manufacturing activities: materials handling, machine setup, insertion ofparts, and finishing. The budgeted activity costs for 2018 and their allocation bases are as follows: Table data Activity Materials handling Machine setup Insertion of parts Finishing Total Total Budgeted Cost Allocation Base $4,000 4,800 Number of parts Number of setups 52,000 78,000 $138,800 Number of parts Finishing direct labor hours Mike expects to produce 500 chrome bumpers during the year. The bumpers are expected to use 4,000 parts, require 55 setups, and consume 1,000 hours of finishing time