Northstar 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) GOED Requirement 1. Compute the cost allocation rate for each activity First identify the formula, then compute the rate for each activity Activity cost allocation rate Mat handling per part Mach setup per setup Insertion per part Finishing per hour = Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420 MOH Cost Activity Materials handling Machine setup Insertion of parts Finishing Total Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 Activity MOH Cost Northstar 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 Read the More info 1 Job 420 used 200 parts, required 5 setups, and consumed 140 finishing hours Job 510 used 450 parts, required 6 setups, and consumed 300 finishing hours ctivity Print Done Activity Materials handling Machine setup Insertion of parts Finishing Total Budgeted Manufacturing Overhead Cost Allocation Base $ 13,000 Number of parts 5,700 Number of setups 33,800 Number of parts 56,000 Finishing direct labor hours 108,500 Total $ Print Done ecer