Ces Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted i Activity Process Assembly Activity Machining Setups Budgeted Cost $311,400 26,000 Activity Cost Driver Usage Machine hours (MR) 7,200 Setups 120 $337,400 Finishing Inspecting $220,000 Support Purchasing $ 138,000 Inspections 760 Purchase ordere 510 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Per Unit Selling price per unit Model X Model 1,600 3,200 2,200 5,000 40 80 520 240 340 170 Model X Model I $405 $385 155 100 130 145 Direct materials cost per unit Direct labor cost per unit 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 Inspecting Purchasing machine hours setups inspections purchase orders Reculed 2