The Sit-N-Spin Corporation manufactures and assembles office chairs. Sit-N-Spin uses an activity-based costing system to allocate al 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: Activity Allocation Base Materials handling Number of parts Machining Machine hours Assembling Number of parts Packaging Number of finished units What is the cost of assembling per chair? $55.00 $30.00 $5.50 $6.00 Cost Allocation Rate $2.75 per part $3.00 per machine hour $1.50 per part $2.75 per finished unit