Process Assembly Finishing Support Activity Machining Setups Inspecting Purchasing Budgeted Cost $ 310,600 24,000 $ 334,600 $220,000 $ 132,000 Activity Activity Cost Driver Usage Machine hours (MH) 7,800 Setups 60 Inspections 780 Purchase orders 480 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Inspections Setups Purchase orders Per Unit Selling price per unit Model X Model z 2,000 4,000 2,400 5,400 20 40 520 260 320 160 Model X Model $410 155 $ 390 115 125 140 Direct materials 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 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 Remired 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 Budgeted Cost Budgeted Activity Usage machine hours setups inspections Activity Rate