Product Costs and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate Isaac Engines Inc. produces three products-pistons, valves, and cams-for the heavy equipment industry. Isaac Engines has a very simple production process and product line and uses a single plantwide factory overhead rate to allocate overhead to the three products. The factory overhead rate is based on direct labor hours. Information about the three products for 2012 is as follows: Direct Materials Direct Labor Hours Peru 0.30 59 23 Valves Cams 1,000 20 The estimated direct labor rate is $20 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for Isaac Engines is $235,200. If required, round all per unit answers to the nearest cent. a. Determine the plantwide factory overhead rate. per din b. Determine the factory overhead and direct labor cost per unit for each product. Factory Overhead Direct Labor Direct Labor Hours Per Unit Cost Per Unit Cars C. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31, 2042. Include the gross profit as a percent of sales in the last line of your report, rounded to one decimal place. Product Line Bugeted Greets For the Year Ended December 31, 2012 Cams Productos