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Felcher 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: Click the icon to view the budgeted costs and activity bases) Read the requirements 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) Predetermined OH allocation rate Data Table Total Budgeted Activity Cost Allocation Base Materials handling $ 3,000 Number of parts Machine setup 4,800 Number of setups Insertion of parts 54,000 Number of parts Finishing 72,000 Finishing direct labor hours 5 133,800 Total Felcher expects to produce 500 chrome bumpers during the year. The bumpers are expected to use 4,000 parts, require 5 setups, and consume 1.000 hours of finishing time Print Done