Please help with this one
Exercise 17-17 (Algo) Using activity-based costing to allocate overhead, compute product cost and gross profit LO P3 Ice Cool produces two different models of air conditioners. The activities, costs, and cost drivers associated with the production processes follow. Budgeted Activity Usage Process Assembly Activity Machining Setups Budgeted Cost $ 312,000 Activity Cost Driver Machine hours (MH) Setups 7,200 180 22,000 $ 334,000 Finishing Inspecting $ 230,000 Inspections 800 Support Purchasing $ 132,000 Purchase orders 540 Additional production information concerning its two models follows. Units and Activities. Model X Model I 4,400 Units produced Maching hours 2,200 2,000 5,200 60 120 Setups Inspections Purchase orders 500 300 360 180 Por Unit Model X Model 2 Selling price per unit $ 400 $ 380 Direct materials cost per unit 150 105 Direct labor cost per unit 140 135 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 41 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) es Actity Budgeted Cost Budgeted Activity Usage Activity Rate Machining Setups Inspecting Purchasing 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 i other answers to the nearest whole dollar amount.) Overhead cost per unit-Model X Allocated Cost Activity Activity Rate: Activity Usage Machining Setups Inspection Purchasing Total allocated cost $ 0 Units produced 0 Overhead cost per unit Overhead cost per unit-Model Z Activity Activity Usage: Activity Rate Allocated Cost Machining Setups Inspection Purchasing Total allocated cost $ 0 Units produced Overhead cost per unit 0 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 XI Model Z Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 nces 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
