Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Activity Machining Setups Activity Cost Driver Machine hours (MH) Setups Budgeted Activity Usage 7,800 180 Budgeted Cost $ 311,400 22,000 $ 333,400 $ 232,000 $ 136,000 800 Finishing Support Inspecting Purchasing Inspections Purchase orders 510 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model X 1,400 2,200 60 500 340 Model z 2,800 5,600 120 300 170 $ 420 140 145 Per Unit Model X Model z Selling price per unit $ 400 Direct materials cost per unit 155 120 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 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Machining Setups Inspecting Purchasing 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.) Overhead cost per unit-Model X Activity Activity Usage Activity Rate Allocated Cost Machining Setups Inspection Purchasing Total allocated cost $ Units produced Overhead cost per unit 0 0 Activity Usage Activity Rate Allocated Cost Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit $ 0 0 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 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 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.) Per Unit Selling Price Product cost per unit Gross Profit Model X Model z