b. Determine the factory overhead and direct labor cost per unit for each product. c. Use the information provided to construct a budgeted gross profit report by product line for the vear ended Decernber 31 , 20y2. Include the gross profit as a percent of sales in the last line of your repert, rounded to one decimal place. Product costs and product profitability reports, using a single plantwide factory overhead rate Kao Engines Inc. produces three products-pistons, valves, and cams-for the heavy equipment industry, Kao Engines' production process uses a single plantwide factory overhead rate based upon direct labor hours to allocate overhead to the three products. The three products for 20y2 are as follows: The estimated direct labor rate is 525 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budoeted factory overhead for Kao Engines is $377,600. If required, round all per unit answers to the nearest cent. a. Determine the plantwide factory overhead rate. per dith. c. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31 , 20Y2. Include the gross profit as a percent of sales in the last line of your report, rounded to one decimal place. d. What does the report in (c) indicate to you? Pistons have the gross profit as a percent of sales. Pistons may require a price or cost to manufacture in order to achieve a higher profitability similar to the other two products