Question 13 1 out of 1 points The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an activity-based costing system to allocate all manufacturing conversion costs. Each chair consists of 20 separate parts totaling $125 in direct materials, and requires 2.0 hours of machine time to produce. Additional information follows: Allocation Base Number of parts Machine hours Activity Materials handling Machining Assembling Packaging Number of finished units What is the cost of assembling per chair? Number of parts Cost Allocation Rate $2.75 per part $3.00 per machine hour $1.50 per part $2.75 per finished unit