Total Budgeted Manufacturing Overhead Cost Allocation Base Activity Materials handling $ Number of parts Machine setup 13,200 5,200 49,500 86,100 Number of setups Number of parts Insertion of parts Finishing Finishing direct labor hours $ 154,000 Total Print Done * 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 Farragut Company uses ABC to account for its chrome wheel manufacturing process Company managers have identified four manufacturing activities that incur manufacturing overhead costs materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as follows: (Click the icon to view the budgeted costs and activity bases.) Farragut Company expects to produce 1,000 chrome whools during the year. The wheels are expected to use 3,300 parts, require 20 setups, and consumo 2,100 hours of finishing time Job 420 used 200 parts, required 5 setups, and consumed 110 finishing hours Job 510 used 450 parts, required 6 setups, and consumed 310 finishing hours Read the fequitement 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