Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the productio processes follow. Process Assembly Finishing Support Activity Machining Setups Budgeted Activity Budgeted Cost $ 310,600 24,000 Activity Cost Driver Machine hours (MH) Usage 7,800 Setups 120 $ 334,600 Inspecting $ 232,000 Inspections 820 Purchasing $ 136,000 Purchase orders 480 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model X 1,400 Model Z 2,800 2,400 5,400 40 80 520 300 320 160 Per Unit Model X Model Z Selling price per unit $ 410 Direct materials cost per unit 160 $ 390 115 Direct labor cost per unit 130 130 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. Iselling price per unit minus product cost per unit).