Ice Cool produces two different models of alr conditioners. The activities, costs, and cost drivers associated with the production processes follow. Process Assembly Activity Machining Setups Budgeted Activity Usage 7,488 120 Budgeted Cost $ 310,400 22,00 $ 332,480 $ 230,00 Activity Cost Driver Machine hours (MH) Setups 820 Finishing Support Inspecting Purchasing Inspections Purchase orders $ 136,00 540 Additional production Information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model X 1,600 2,eee 40 540 360 Model z 3, 2ee 5, 4ee 80 280 180 Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X $ 420 150 125 Model z $ 40e 100 150 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