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 7,600 120 Budgeted Cost $ 311,800 26,000 $ 337,800 $ 220,000 $ 132,000 Finishing 760 Inspecting Purchasing Inspections Purchase orders Support 570 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model x 2,200 2,200 40 460 380 Model z 4,400 5,400 80 300 190 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model x $ 405 145 140 Model Z $ 385 105 145 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). 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