Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted Activity Process Assembly Activity Machining Setups Budgeted Cost $ 279,000 24,000 Activity Cost Driver Machine hours (MH) Usage 6,000 Setups 120 $ 303,000 Finishing Inspecting $ 210,000 Support Purchasing $ 135,000 Inspections 700 Purchase orders 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Per Unit Model X Model Z 1,724 3,463 1,800 4,200 40 80 400 300 300 150 Model X Model Z Selling price per unit $ 420 Direct materials cost per unit Direct labor cost per unit 100 150 $ 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.) Activity Machining Setups Inspecting Purchasing Budgeted Cost Budgeted Activity Usage Activity Rate 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.) Overhead cost per unit-Model X Activity Activity Usage 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 Rate Allocated Cost Activity Usage Activity Rate Allocated Cost 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 Model X Model Z Direct Materials Direct Labor Overhead Product 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 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 Model X Model Z Selling Price Product cost per unit Gross Profit