Ice Lool produces two ditterent models of air conditioners. I he activities, costs, and cost drivers associated with the production processes follow. Additional production information concerning its two models follows. 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. Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) \begin{tabular}{|l|l|l|l|l|} \hline Overhead cost per unit-Model X & & Activity Rate & Allocated Cost \\ \hline Activity & & & & \\ \hline Machining & & & & \\ \hline Setups & & & \\ \hline Inspection & & & \\ \hline Purchasing & & & \\ \hline Total allocated cost & & & \\ \hline Units produced & & & \\ \hline Overhead cost per unit & & & \\ \hline Overhead cost per unit-Model Z & & \\ \hline Activity & & & \\ \hline Machining & & & \\ \hline Setups & & & \\ \hline Inspection & & & \\ \hline Purchasing & & & \\ \hline Total allocated cost & & & \\ \hline Units produced & & & \\ \hline Overhead cost per unit & & & \\ \hline \end{tabular} Compute the total product cost per unit for each model. (Round "Activity Rate" to 2 decima [ places and other intermediate calculations to the nearest whole dollar amount. Round your final answers to 2 desimal places.) 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.)