Problem 17-1A (Algo) Comparing plantwide rate method and activity-based costing LO P1, P3 Craftmore Machining reports the following budgeted overhead cost and related data for this year 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 400 direct labor hours and Job 42 used 690 direct labor hours. Allocate overhead cost to each job usirig 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 Compute a single plantwide overhead rate aswuming the company allocates overhead cost based on 13,000 direct labor hours Job 31 used 400 direct labor hours and Job 42 used 690 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places Allocate overhead costs to Job 31 and Job 42 using activity-based costing. (Round "Activity Rate" to 2 decimal pl