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Franklin 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) Franklin Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 2,800 parts, require 20 setups, and consume 2,200 hours of finishing time. (Click the icon for completed job data) Read the 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 - X Data Table Activity Materials handling Machine setup Insertion of parts Finishing .. Total Budgeted Manufacturing Overhead Cost Allocation Base $ 5,600 Number of parts 6,400 Number of setups 39,200 Number of parts 96,800 Finishing direct labor hours 148,000 Total I 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. Check Answer More Info Job 420 used 150 parts, required 3 setups, and consumed 110 finishing hours. Job 510 used 500 parts, required 6 setups, and consumed 340 finishing hours