Craftmore Machining reports the following budgeted overhead cost and related data for this year. ActivityBudgeted CostActivity Cost DriverBudgeted Activity UsageAssembly$ $438,750$Direct labor hours $($DLH$)13,000$Product design$67,500$Engineering hours $($EH$)1,350$Electricity$22,500$Machine hours $($MH$)10,000$Setup$56,250$Setups$450$Total$ $585,000$ Required:$1.$ Compute a single plantwide overhead rate assuming the company allocates overhead cost based on $13,000$ direct labor hours$\mathrm{.}2.$ Job $31$ used $280$ 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 $1\mathrm{.}3.$ Compute an activity rate for each activity using activity$-$based costing$\mathrm{.}4.$ Allocate overhead costs to Job $31$ and Job $42$ using activity$-$based costing.