Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Assembly Product design Electricity Setup Total Budgeted Cost Activity Cost Driver $ 468,000 Direct labor hours (DLH) 72,000 Engineering hours (EH) 24,000 Machine hours (MH) 60,000 Setups $ 624,000 Budgeted Activity Usage 13,000 1,440 10,000 400 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 2. Job 31 used 280 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each 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 Cont Driver Direct labor hours (DLHY Engineering hours (EB) Machine hours (MH) Setupa Activity Usage Job 31 Job 42 280 560 34 40 55 60 6 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Allocate overhead costs to Job 31 and Job 42 using activity-based costing. (Round "Activity Rate to 2 decimal places. Activity Assembly Product design Cat Allocate overhead to Job 31 Activity Usage Activity Rate 468,000 Direct labor hours 1,300.00 per direct labor hour Allocated Cost