year and their allocation bases are as follows: (1) (Click the icon to view the budgeted costs and activity bases.) Job 420 used 225 parts, required 4 set-ups, and consumed 150 finishing hours. Job 510 used 500 parts, required 5 set-ups, and consumed 330 finishing hours. Reouirements Requirement 1. Compute the cost allocation rate for each activity. First, identify the formula, and then compute the rate for each activity. Requirement 2. Compute the manufacturing overhead cost that should be assigned to Job 420 . Requirement 3. Compute the manufacturing overhead cost that should be assigned to Job 510 . Budgeted costs and activity bases