Requirement $1.$ Compute the cost allocation rate for each activity. First identify the formula, then compute the rate for each activity.

Activity cost

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allocation rateData tableJob $420$ used $200$ parts, required $5$ setups, and consumed $120$ finishing hours.

Job $510$ used $450$ parts, required $6$ setups, and consumed $310$ finishing hours.Compute the cost allocation rate for each activity.

Compute the manufacturing overhead cost that should be assigned to Job $420.$

Compute the manufacturing overhead cost that should be assigned to Job $510.$