Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the two manufacturing processes and the support process follow. Budgeted Activity Usage 7,200 240 Process Activity Budgeted Cost Cost Driver Assembly Machining $ 310,000 Machine hours (MH) Setups 26,000 Number of setups $ 336,000 Finishing Inspecting $ 222,000 Number of inspections Support Purchasing $ 134,000 Purchase orders Additional production information concerning its two models follows. 760 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model X 2,000 2,200 80 460 300 Model 2 4,000 5,000 160 300 150 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X $ 410 150 140 Model X $ 390 105 155 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 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.) Activity Budgeted Cost Budgeted Activity Usago Activity Rate Machining Setups Inspection Purchasing Assessment Tool iFrame Lired 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.) Overhead cost per unit--Model X Activity Activity Usage Activity Rate Allocated Cost Machining Setups Inspection Purchasing $ Units produced Overhead per unit Total 0 0 Activity Rate Allocated Cost Overhead cost per unit-Model Z Activity Activity Usage Machining Setups Inspection Purchasing Total Units produced Overhead per unit $ 0 Required 1 Required 2 Required 3 Required 4 Required 1 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.) Per Unit Direct Materials Direct Labor Overhead Product Cost per Unit Model X Model Z Required 1 Required 2 Required 3 Required 4 For each model, compute the selling price per unit minus product cost per unit. (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.) Per Unit Selling Price Product cost per unit Selling price - Product cost Model X Model Z