Process Assembly Activity Machining Setups Budgeted Cost $ 311,400 26,000 Activity Cost Driver Machine hours (MH) Setups Budgeted Activity Usage 7,400 240 $ 337,400 Finishing Inspecting $ 220,000 Inspections 800 Support Purchasing $ 134,000 Pui chase orders 480 Additional production information concerning its two models follows. Units and Activities Units produced Model X Model z 1,400 2,800 Machine hours Setups Inspections Purchase orders Per Unit Selling price per unit 2,200 5,200 80 160 480 320 320 160 Model X Model z $ 400 Direct materials cost per unit 150 $ 380 105 Direct labor cost per unit 135 140 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 tits