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 $ 311,400 22,000 $333,400 Activity Cost Driver Usage Machine hours (MH) 7,400 Setups 240 Finishing Inspecting $ 228,000 Inspections 800 Support Purchasing $ 134,000 Purchase orders 570 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Per Unit Model X Model Z 2,200 4,400 2,400 5,000 80 160 540 260 380 190 Model X Model Z $415 155 $ 395 120 130 145 Selling price per unit 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