Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Activity Cost Driver Budgeted Activity Usage Assembly $ 536,250 Direct labor hours (DLH) 13,000 Product design 82,500 Engineering hours (EH) 1,500 Electricity 27,500 Machine hours (MH) 10,000 Setup 68,750 Setups 550 Total $ 715,000 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 640 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 Activity Usage Job 31 Job 42 Direct labor hours (DLH) 320 640 Engineering hours (EH) 41 47 Machine hours (MH) 40 56 Setups 3 5