Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted Cost Activity Cost Driver Budgeted Activity Usage Assembly Activity Machining Budgeted cost $311,000 Machine hours (MH) 7,400 Setups 24,000 Setups 240 $335,000 Finishing Inspecting $230,000 Inspections 740 Support Purchasing $134,000 Purchase orders 480 Additional production information concerning its two models follows. Compute the activity rate for each activity using activity-based costing. Using activity-based costing, compute the overhead cost per unit for each model. Compute the total product cost per unit for each model. For each model, compute the gross profit per unit (selling price per unit mi

Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted Activity Budgeted Cost $ 311,000 24,000 $335,000 Activity Cost Driver Machine hours (MH) Usage 7,400 Setups 2401 Process Assembly Activity Machining Setups Finishing Inspecting $ 230,000 Support Purchasing $ 134,000 Inspections 740 Purchase orders 480 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Model X Model Z 1,600 3,200 2,200 5,200 Setups Inspections Purchase orders 80 160 480 260 320 160 Per Unit Selling price per unit Model X $ 420 Model Z $ 400 Direct materials cost per unit 155 115 Direct labor cost per unit 140 120 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. Note: Round "Activity Rate" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Round your final answers to 2 decimal places. Per Unit Model X Model Z Direct Materials Direct Labor Overhead Product Cost per Unit