Total Budgeted Manufacturing Activity Overhead Cost Allocation Base Materials handling ..... $ 9,000 Number of parts Machine setup 3,500 Number of setups Insertion of parts 45,000 Number of parts 78,000 Finishing Finishing direct labor hours $ 135,500 Total Job 420 used 100 parts, required 5 setups, and consumed 130 finishing hours. Job 510 used 500 parts, required 6 setups, and consumed 310 finishing hours. 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. Franklin Company uses ABC to account for its chrome wheel manufacturing process. Franklin Company expects to produce 1,000 chrome wheels during the year. The wheels Company managers have identified four manufacturing activities that incur manufacturing are expected to use 3,000 parts, require 10 setups, and consume 1,500 hours of finishing overhead costs: materials handling, machine setup, insertion of parts, and finishing. The time. budgeted activity costs for the upcoming year and their allocation bases are as follows: (Click the icon for completed job data.) (Click the icon to view the data.) Read the requirements, C. Requirement 1. Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity. Activity cost allocation rate Total activity allocation base Total activity overhead (est.) Total assets Total hours Total liabilities Total owners' equity Help Me Sol Total plantwide overhead elp - Clear All Check