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 $ 311,800 28,000 Activity Cost Driver Machine hours (MH) Usage 8,000 Setups 180 Finishing Support $ 339,800 Inspecting $ 222,000 Purchasing $ 132,000 Inspections 760 Purchase orders 540 Additional production information concerning its two models follows. Units and Activities Units produced Model X 1,600 Model z 3,200 Machine hours 2,400 5,600 Setups 60 -120 Inspections 480 280) Purchase orders 360 180. Per Unit Selling price per unit Model X $ 400 Direct materials cost per unit 160 Model $ 380 100 Direct labor cost per unit 130 155 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).