Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Assembly Product design Electricity Setup Total Budgeted Cont $ 487,500 Activity Cost Driver Direct labor hours (DL) 75,000 Engineering hours (EH) 25,000 Machine hours (MI) 62,500 $650,000 Setups Budgeted Activity Usage 13,000 1,500 10,000 500 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labe 2. Job 31 used 300 direct labor hours and Job 42 used 580 direct labor hours. Allocate overhead cost to each job using t 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 42 300 580 36 42 60 70 6 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 >