Craftmore Machining reports the following budgeted overhead cost and related data for this year Activity Budgeted Cost Assembly $ 555,750 Activity Cost Driver Direct labor hours (DLH) Product design 85,500 Engineering hours (EH) Electricity 28,500 Machine hours (MH) Setup 71,250 Setups $741,000 Total Budgeted Activity Usag 13,000 1,500 11,400 570 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based o 2. Job 31 used 320 direct labor hours and Job 42 used 680 direct labor hours. Allocate overhead com 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) Activity Usage Job 31 Job 42 320 680 43 49 56 58 8 Setups this question by entering your answers in the tabs below.