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. Print Done Frances 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.) Frances 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. Data table Activity cost = allocation rate Activity Total Budgeted Manufacturing Overhead Cost Materials handling S Machine setup Insertion of parts Finishing. S 96,800 148,000 Total Allocation Base 5,600 Number of parts 6,400 Number of setups 39,200 Number of parts Finishing direct labor hours Print Done - X