Budgeted Activity Budgeted Cost Activity Cost Driver Usage Machine hours (MH) 7,200 Setups 60 Inspections 800 Purchase orders 480 Process Assembly Activity Machining Setups $ 310,200 22,000 $ 332,200 Finishing Inspecting $ 228,000 Support Purchasing $ 130,000 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Per Unit Selling price per unit Direct materials cost per unit Direct labor cost per unit Model X Model Z 1,800 3,600 2,000 5,200 20 40 500 300 320 160 Model X Model Z $ 405 $ 385 155 110 140 160 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.) Activity Machining Setups Inspecting Purchasing Budgeted Cost Budgeted Activity Usage Required f Required 2 > Activity Rate