Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted Activity Process Activity Budgeted Cost Activity Cost Driver Usage Assembly Machining $ 310,000 Machine hours (MH) 7,200 Setups 24,000 Setups 180 $ 334 , 000 Finishing Inspecting $ 228,000 Inspections 800 Support Purchasing $ 130, 000 Purchase orders 450 Additional production information concerning its two models follows. Units and Activities Model X Model z Units produced 2,000 4,000 Machine hours 2,200 5,000 Setups 60 120 Inspections 480 320 Purchase orders 300 150 Per Unit Model X Model Z Selling price per unit $ 420 $ 400 Direct materials cost per unit 150 110 Direct labor cost. per unit 145 135 1. Compute the activity rate for each activity using activitybased costing. 2. Using activitybased 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 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Machining Inspecting Purchasing Required 2 > Complete this question by entering your answers in the tabs below. 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.) Total allocated cost _ Units produced _ Overhead cost per unit Inspection Purchasing Total allocated cost Units produced :I Overhead cost per unit 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.) 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.)