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Fadeley, Inc. uses activity-based costing to account for its chrome bumper manufacturing process. Company managers have identified four manufacturing activities: materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for the year and their allocation bases are as follows: (Click the icon to view the budgeted costs and activity bases.) Read the requirements. Requirement 1. Compute the predetermined overhead allocation rate for each activity. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate for each activity. (Round your answers to the nearest cent.) Requirement 2. Job 86 required the production of 130 bumpers and required one setup. Compute the indirect manufacturing cost allocated to Job 86 . Begin by selecting the formula to allocate overhead (OH) costs. \begin{tabular}{l} Job 86 required the production of 130 bumpers and required one setup. Compute the indirect manufacturing cost allocated to Job 86. (Round all amounts to the nearest cent.) \\ Job 86: \\ \hline Materials handling \\ Machine setup \\ Insertion of parts \\ Finishing \\ Total mfg. OH costs \end{tabular} Data table Fadeley expects to produce 500 chrome bumpers during the year. The bumpers are expected to use 2,000 parts, require 10 setups, and consume 1,000 hours of finishing time

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