Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Activity Cost Driver Assembly $ 507,000 Direct labor hours (DLH) Product design 78,000 Engineering hours (EH) Electricity 26,000 Setup Total 65,000 Machine hours (MH) Setups $ 676,000 Budgeted Activity Usage 13,000 1,500 10,000 520 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 600 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 42 320 600 38 44 50 60 6 8 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4