Product Costs and Product Profitability Reports, using a single Plantwide Foctory Overhead Rate Elliott Eingities inc, produces three products-pistons, valves, and carts-for the hesvy equlpenent industry, Eliott Engines has a very sithele produetion process and product line and uses a single plantwice factory overhead rate to allecate cverhead to the thee products. The fastory overhead rate is besed on drect labor hour. Information hbout the three products for 20y2 is as follows: The estimated direct labor rate is \$2. per direct iabor hour. Beginning and endmg inventories are negligible shd are, thus. atiumed to be tero. The biognted factory overhead for Elilott Engines is $151,250. If required, round all per anit answers to the nearest cent. a. Dotermine the plantwide factory overhead rate. per din b. Determine the factory guerhead and direct labor cost per unit for each product. sales in the last line of your report, rounded to one decimal place. Enter all amounts as positive numbers, except for a negativn .705 brofitgras prafit percentage of sales, finpoting Theck My wak