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Fortunado Company uses ABC to account for its chrome wheel nmanufacturing process. Company managers have ideeded four manufacturing activites 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) Requirement 1. Compute the cost alocation rate for each activity. First identify the formula, then compute the case for each activity Activity co Total activity overhead (est) Total activity adocation base location rate Mat, handling Data table Activity Materials handling Machine setup Insertion of parts Finishing.. Total Total Budgeted Manufacturing Overhead Cost S Allocation Base 15.500 Number of parts 7,000 Number of setups 49,600 Number of parts 91,200 163.300 Finishing direct sabor hours Fortunado Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use 3,100 parts require 25 setups, and consume 2,400 hours of fishing time (Click the icon for completed job data) Read the requirements per part 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