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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 Process Activity Budgeted cost Cost Driver Usage Assembly Machining $ 310,400 Machine hours (MH) 7,000 Setups 22,000 Number of setups 60 $ 332,400 Finishing Inspecting $ 232,000 Number of inspections 880 Support Purchasing $ 136,000 Purchase orders 540 Additional production information concerning its two models follows Units and Activities Model x Model z Units produced 1,600 3,200 Machine hours 2,000 5,000 Setups 20 40 Inspections 540 340 Purchase orders 360 180 $ 410 155 135 Model z $ 390 110 135 Per Unit Model X Selling price per unit Direct materiale cost per unit 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 selling price per unit minus product cost per unit