17-1A (Algo) Comparing plantwide rate method and activity-based costing LO P1, P3 Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Assembly 25:56 Product design ok Electricity Setup Total Budgeted Cost Activity Cost Driver, $ 536,250 Direct labor hours (DLB) Engineering hours (EH)) 82,500 27,500 Machine hours (MH) 68,750 $715,000 Setups Budgeted Activity Usage: 13,000 1,500 10,000 550 ces Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 320 direct labor hours and Job 42 used 640 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. Activity Coat Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Activity Usage Job 31 Job 42 320 640 41 47 40 56 3 5 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. Numerator Denominator