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 $ 311,000 Activity Cost Driver: Machine hours (M4) Usage 7,400 26,000 $337,000 Setups 180 Finishing Support Inspecting Purchasing $ 228,000 $132,000 Inspections 800 Purchase orders 480 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 Z 1,600 3,200 2,400 5,000 60 120 480 320 320 160 Model X $405 Model Z $385 145 120 140 135 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 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 $ 0 0 0 0 Exercise 17-17 Saved 1 40 points eBook Hint Print References t Inspections Purchase orders Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit 480 320 320 160 Model X $ 405 Model Z $ 385 145 120 140 135 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 unt 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. (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 Inspections Purchase orders 480 320 320 160 Per Unit Model X Model Z Selling price per unit $ 405 $ 385 Direct materials cost per unit 145 120 Direct labor cost per unit 140 135 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 Require For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). (Round "Product cost per unit" and "Gross Profit" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Negative amounts should be indicated with a minus sign.) Per Unit Model X Model Z Selling Price Product cost per unit Gross Profit