Franklin Company uses ABC to account for its chrome wheel manufacturing Franklin Company expects to produce 1,000 chrome wheels during the year. The process. Company managers have identified four manufacturing activities that incur wheels are expected to use 3,100 parts require 25 setups, and consume 2 400 manufacturing overhead costs: materials handling, machine setup. Insertion of parts, hours of finishing time. and finishing The budgeted activity costs for the upcoming year and their allocation Click the Icon for completed job data) bases are as follows: Click the icon to view the data) Read the requirements Requirement 1. Compute the cost allocation rate for each activity. First identify the formalu, then computer the rate for each activity, Activity cost Total activity overhead (ost) Tous activity allocation base allocation rate Mat, handling 15500+ per part allol Activity Materials handling ... Machine setup Total Budgeted Manufacturing Overhead Cost Allocation Base $ 15,500 Number of parts 7,000 Number of setups 49,600 Number of parts 91,200 Finishing direct labor hours $ 163,300 ove Insertion of parts .... Finishing ..... Total... Print Done as ar i More Info lol ove Job 420 used 100 parts, required 2 setups, and consumed 150 finishing hours. Job 510 used 500 parts, required 4 setups, and consumed 320 finishing hours. Print Done i 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