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 $ 311,200 24,000 Activity Cost Driver Machine hours (MH) Usage 7,200 Setups 120 Finishing Support $ 335,200 Inspecting $ 232,000 Purchasing $ 132,000 Inspections 760 Purchase orders 540 Additional production information concerning its two models follows. Units and Activities Model X Model Z Units produced 1,800 3,600 Machine hours 2,200 5,000 Setups 40 80 Inspections 460 300 Purchase orders 360 180 Additional production information concerning its two models follows. Units and Activities Units produced Model X Model Z 1,800 3,600 Machine hours Setups Inspections Purchase orders 2,200 5,000 40 80 460 300 360 180 Per Unit Model X Model Z Selling price per unit $ 400 Direct materials cost per unit 155 Direct labor cost per unit 125 $ 380 115 145 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.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Machining Setups Inspecting Purchasing 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 Activity Rate Allocated Cost $ 0 0 Overhead cost per unitModel Z Activity Activity Usage Activity Rate Allocated Cost Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit $ 0 0 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 < Required 2 Required 4 > 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). (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 < Required 3 Required 4 >