Part 1 of 7 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: (Click the icon to view the data.) Points: 0 of 4 Frederick Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 2,900 parts, require 15 setups, and consume 1,800 hours of finishing time. i (Click the icon for completed job data.) Read the requirements. Requirements 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 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. Get more help - Total activity allocation base Total activity overhead (est.) Total assets Total hours Total liabilities Total owners' equity Total plantwide overhead Total revenues Data table Print Done Activity Materials handling... Machine setup ... ........ Insertion of parts Finishing. Total... $ Total Budgeted Manufacturing Overhead Cost Allocation Base 8,700 Number of parts 4,650 Number of setups 49,300 Number of parts 75,600 138,250 Finishing direct labor hours Print Done Check answe Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Activity cost Total activity allocation base Total activity overhead (est.) Total assets Total hours Total liabilities Total owners' equity Total plantwide overhead Total revenues allocation rate