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 Englnes' 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 20 r2 are as follow5: The estimsated direct labor rate is $25 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted 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. s per dih 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 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. c. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31 , 20 r2. Include the gross profit as a percent of satos in the tast tine 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