Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow Budgeted Activity Usage 7,800 180 820 480 Process Activity Budgeted Coat Activity Cost Driver Assembly Machining $ 311,200 Machine hours (MR) Setups 24,000 Setupe $ 335,200 Finishing Inspecting $ 222,000 Inspections Support Purchasing $ 134,000 Purchase orders Additional production information concerning its two models follows, Units and Activities Model X Model Units produced 2,200 4,400 Machine hours 2,200 5,600 Setupe 60 120 Inspections 520 300 Purchase orders 320 160 Per Unit Selling price per unit Direct materiale cost per unit Direct labor cost per unit Model x $ 420 155 145 Model 400 120 130 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 Budgeted Cost Budgeted Activity Usage Activity Rate Machining Setups Inspection Purchasing Required 2 > 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 place other answers to the nearest whole dollar amount.) Overhead cost per unit-Model X Activity Activity Usage Activity Rate Allocated Cost Machining Setups Inspection Purchasing Total allocated cost $ Units produced Overhead cost per unit 0 0 Activity Usage Activity Rate Allocated Cost Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit 0 0 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.) Direct Materials Direct Labor Overhead Product Cost per Unit Per Unit Model X Model Z 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.) Selling Price Product cost per unit Gross Profit Per Unit Model X Model Z