More info Job 420 used 250 parts, required 2 setups, and consumed 130 finishing hours. Job 510 used 425 parts, required 5 setups, and consumed 330 finishing hours. Data table 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 . Fortunado Company uses ABC to account for its choome wheel manufacturing process, Company managers have identffed four manufacturing activities that incur manufacturing overhead costs: materials handing. machine setup, insertion of parts, and finishing. The budgeled activity costs for the upcoming year and their allocation bases are as follows: (Click the icon to view the data) Fortunado Company expects to produce 1,000 chrome wheels during the year. The wheels are expocted 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 teguirements Requirement 1. Compute the cost aliocaton rate for each activey. First identify the formula, then compuse the rate for each activity