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. Kad Engines' production process uses a single plantwide fact. overhesd rate based upon direct labor hours to allocate overhead to the three products. The three products for 20r2 are as follows: The estimated direct labor rate is $25 per direct labor hour. Beginning and ending inventories are negligibie 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. per dih b. Detemine the factory overhead and direct labor cost per unit for each product. c. Use the intormation provided to construct s budgetedi gross profit report by product line for the year ended December 31 , 20v2. Include the gross profit as a percent c. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31 , 20Y2. Inciude 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 achleve a higher profitability similar to the other two products