Required information Problem 04-3A Applying activity-based costing LO P1, P3, A1, A2, C3 (The following information applies to the questions displayed below.) Craft Pro Machining produces machine tools for the construction industry. The following details about overhead costs were taken from its company records. Indirect Materials Other Overhead Indirect Labor $310,000 $220,000 Production Activity Grinding Polishing Product modification Providing power System calibration 600,000 $ 220,000 530,000 Additional information on the drivers for its production activities follows. Grinding and Polishing Product modification Providing power System calibration 14,000 machine hours 1,600 engineering hours 18,000 direct labor hours 550 batches Job 4286 1,375 units 3,000 MH Number of units Machine hours Engineering hours Batches Direct labor hours Job 3175 110 units 300 MH eng. 32 hours 15 batches 510 DLH 28 eng. hours 45 batches 4,590 DLH Problem 04-3A Part 1 Required: 1. Classify each activity as unit level, batch level, product level, or facility level. Grinding Polishing Product modification Providing power System calibration Problem 04-3A Parts 2, 3 & 4 Required: 2, 3 & 4. Compute the activity overhead rates using ABC. Combine the grinding and polishing costs into a single cost pool. Determine overhead costs to assign to the above jobs using ABC. What is the overhead cost per unit for Job 3175? What is the overhead cost per unit for Job 4286? (Round your activity rate and average overhead cost per unit to 2 decimal places. Round "overhead assigned" to the nearest whole dollar.) Activity Overhead Cost Activity Drivers Activity Rate Grinding & Polishing Machine hours Product modification Engineering hrs. Providing power Direct labor hrs. System calibration batches Job 3175 Overhead assigned Job 4286 Activity driver Overhead incurred assigned Activity driver incurred Problem 04-3A Part 5 Required: 5. If the company uses a plantwide overhead rate based on direct labor hours, what is the overhead cost for each unit of Job 3175? Of Job 4286? (Do not round intermediate calculations. Round "OH Cost per unit" answers to 2 decimal places.) Product DL hours Plantwide OH rate Total Overhead Cost Units Produced OH Cost per unit Job 3175 Job 4286