Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Activity Cost Driver Assembly $ 477,750 Direct labor hours (DLH) Product design 73,500 Electricity 24,500 Setup 61,250 Engineering hours (EH) Machine hours (MH) Setups Total $ 637,000 Budgeted Activity Usage 13,000 1,470 10,000 490 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 560 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 (DLH) Engineering hours (EH). Machine hours (MH) Setups Activity Usage Job 31 Job 42 320 560 35 41 60 60 5 7 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 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Job 31 used 320 direct labor hours and Job 42 used 560 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 Overhead Direct Labor Hours per Unit Allocated < Required 1 Required 3 > 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 Budgeted Activity Usage Activity Rate Assembly Product design Electricity Setup < Required 2 Required 4 > 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 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 < Required 3 Required 4 >