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 360 direct labor hours and Job 42 used 650 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. Required 1 Required 2 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. Job 31 used 360 direzt labor hours and Job 42 used 650 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 places.)