McGraw Hill 2021 pages 670-680

raftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Assembly Product design Electricity Setup Total Budgeted Cost Activity Cost Driver $ 555,750 Direct labor hours (DLH) 85,500 Engineering hours (EH) 28,500 Machine hours (MH) 71,250 Setups $ 741,000 Budgeted Activity Usage 13,000 1,500 11,400 570 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on hours 2. Job 31 used 320 direct labor hours and Job 42 used 680 direct labor hours. Allocate overhead cost t 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 42 320 680 43 56 58 6 8 49 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4