5 Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Activity Machining Setups pped Budgeted Activity Usage 6,000 120 Activity Cost Driver Machine hours (MH) Setups Budgeted Cost $ 279,000 24,000 $ 303,000 $ 210,000 $ 135,000 Finishing Inspections 700 Inspecting Purchasing Support Purchase orders Book 450 Additional production information concerning its two models follows. Hint Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model x 1,724 1,800 40 400 300 Model z 3,463 4,200 80 300 150 *rint rences Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model x $ 420 100 150 Model Z $ 400 90 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Machining Setups Inspection Purchasing Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow Process Assembly Activity Machining Setups Activity Cost Driver Machine hours (MH) Setups Budgeted Activity Usage 6,000 120 Budgeted Cost $ 279,000 24,000 $ 303,000 $ 210,000 $ 135,000 Inspections 700 Finishing Support Inspecting Purchasing Purchase orders 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model x 1,724 1,800 40 400 300 Model 2 3,463 4,200 80 300 150 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X $ 420 100 150 Model z $ 400 90 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using activity-based costing, compute the overhead cost per unit for each model. (Round "Activity Rate" to 2 decimal places and other answers to the nearest whole dollar amount.) Activity Usage Activity Rate Allocated Cost Overhead cost per unit-Model X Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit $ 0 0 Activity Usage Activity Rate Allocated Cost Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit $ 0 Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Activity Machining Setups Budgeted Cost $ 279,000 24,000 $ 303,000 Activity Cost Driver Machine hours (MH) Setups Budgeted Activity Usage 6,000 120 Finishing 700 Inspecting Purchasing $ 210,000 $ 135,000 Inspections Purchase orders Support 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model x 1,724 1,800 40 400 300 Model Z 3,463 4,200 80 300 150 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X $ 420 100 150 Model Z $ 400 90 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the total product cost per unit for each model. (Do not round intermediate calculations.) Per Unit Direct Materials Direct Labor Overhead Product Cost per Unit Model X Model z Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Activity Machining Setups Budgeted Cost $ 279,000 24,000 $ 303,000 Activity Cost Driver Machine hours (MH) Setups Budgeted Activity Usage 6,000 120 Finishing Inspecting $ 210,000 700 Inspections Purchase orders Support Purchasing $ 135,000 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model x 1,724 1,800 40 400 300 Model Z 3,463 4,200 80 300 150 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X $ 420 100 150 Model z $ 400 90 160 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). (Do not round intermediate calculations. Negative amounts should be indicated with a minus sign.) Per Unit Selling Price Product cost per unit Gross Profit Model X Model Z