Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Finishing Support Activity Machining Setups Budgeted Cost $ 310,400 26,000 $ 336,400 Inspecting $ 234,000 Purchasing $ 130,000 Budgeted Activity Activity Cost Driver Machine hours (MH) Usage 7,800 Setups 180 Inspections 760 Purchase orders 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 1,800 Model 21 3,600 2,200 5,600 60 120 480 280 340 170 Model X Model z $ 410 155 $ 390 120 135 150 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). 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.) Activity Machining Setups Inspecting Purchasing Budgeted Cost Budgeted Activity Usage Activity Rate Overhead cost per unit-Model X Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit. Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit Activity Usage Activity Rate Allocated Cost Activity Usage Activity Rate Allocated Cost Required 1 Required 3 > Compute the total product cost per unit for each model. (Round "Activity Rate" to 2 decimal places and other in 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 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 un per unit" and "Gross Profit" to 2 decimal places and other intermediate calculations to the nearest Negative amounts should be indicated with a minus sign.) Per Unit Model X Model Z Selling Price Product cost per unit Gross Profit