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. Process Activity Budgeted Cost Activity Cost Driver {:[" Budgeted "],[" Activity "],[" Usage "]:} Assembly {:[" Machining "],[" Setups "]:} {:[$311","400],[22","000]:} {:[" Activity cost Driver "],[" Sachine hours (MH) "],[" Setups "]:} {:[" Usage "],[7","400],[180]:} $333,400 Finishing Inspecting $226,000 Inspections 840 Support Purchasing $136,000 Purchase orders 540 Additional production information concerning its two models follows. Compute the activity rate for each activity using activity-ba