Requirement 1. Compute the predetermined overhead allocation rate for each activity.

Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate for each activity. (Round your answers to the nearest cent.)

I also need the formulas and making sure number 1 is right.

Frederick, Inc. uses activity-based costing to account for its chrome bumper manufacturing process. Company managers have identified four manufacturing activities: materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for 2018 and their allocation bases are as follows: EEB Click the icon to view the budgeted costs and activity bases.) Read the requirements. Predetermined OH Estimated qty of the allocation basealocation rate Estimated overhead costs 16000 2200 60000 84000 1000 10 1000 3000 16 220 60 28 Materials handling Machine setup Insertion of parts Requirement 2. Compute the expected indirect manufacturing cost of each bumper Begin by selecting the formula to allocate overhead (OH) costs. Expected qty of the allocation base usedx Now compute the expected indirect manufacturing cost of each bumper. (Round the cost per bumper to the nearest cent.) Data Table Predetermined OH allocation rateAllocated mlg. overhead costs Activity Materials handling Machine setup Insertion of parts Finishing Total Total Budgeted Cost Allocation Base Number of parts Number of setups Number of parts Finishing direct labor hours Allocated Mfg. OH Cost 16,000 2,200 60,000 84,000 162,200 Materials handling Machine setup Insertion of parts Total mfg. OH costs Number of bumpers Mfg. OH cost per bumper Frederick expects to produce 500 chrome bumpers during the year. The bumpers are expected to use 1,000 parts, require 10 setups, and consume 3,000 hours of finishing time. Print Done Choose from any list or enter any number in the input fields and then continue to the next