Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Assembly $390,000 Activity Cost Driver Direct labor hours (OLH) Product design Electricity 60,000 20,000 Engineering hours (EH) Machine hours (MH) Setup Total 50,000 $520,000 Setups Budgeted Activity Usage 13,000 1,000 10,000 400 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 200 direct labor hours and Job 42 used 480 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 Cost Driver Direct labor hours (OLH) Engineering hours (EH) Machine hours (MH); Setups Activity Usage Job 31 Job 421 200 7480 26 32 50 60 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 Required 2 > Required 1 Required 2 Required 3 Required 4 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Job 31 Job 42 Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated Required 1 Required 2 Required 3 Required 4 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Activity Budgeted Cost Assembly Product design Electricity Setup Budgeted Activity Usage < Required 2 Required 4 > Activity Rate Allocate overhead costs to Job 31 and Job 42 using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Activity Assembly Product design Electricity Setup Total Activity Assembly Product design Electricity Setup Total Allocate overhead to Job 31 Activity Usage Activity Rate Allocated Cost Allocate overhead to Job 42 Activity Usage Activity Rate Allocated Cost