Problem 4-1A (Static) 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. Activity Assembly Product design Electricity Setup Total Budgeted Cost $ 390,000 60,000 2e, eee 50,000 $ 520,000 Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Budgeted Activity Usage 13,000 1,000 10,000 409 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 200 direct labor hours and Job 42 used 480 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 Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Activity Usage Job 31 Job 42 200 480 26 32 58 60 4 6 Complete this question by entering your answers in the tabs below. 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. Numerator 0 Denominator Total actual direct labor cost Required 2 > Total actual direct labor hours Total actual engineering hours Total actual machine hours = Total actual manufacturing cost Total actual overhead cost Required 2 > Total actual setups Total budgeted direct labor cost Total budgeted direct labor hours Total budgeted engineering hours Required 2 Total budgeted machine hours Total budgeted manufacturing cost Total budgeted overhead cost Total budgeted setups w Required 1 Required 2 Required 3 Required 4 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the sir plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated Job 31 Job 42 Required 3 > per direct labor dollar per direct labor hour per direct material dollar per machine hour Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Assembly Product design Electricity Setup Direct labor hours Engineering hours Machine hours Setups