Product Costs and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate Eliott Engines tnc produces three products-pistoms, valves, and cams-for the heavy equipment industrylott Engines has a very simple production process and product line and uses single plantwide factory overhead rate to alocate overhead to the three products. me factory overhead rabe us based on drect labor hours. Information about the three products tor 20Y2 is as follows Budgeted Volume (Units) Direct Labor Price Per Direct Materials 12,000 The estrated rect labor raneis$26 per drect tabor hour Begning and ending wemones are neg gee and are, thin, sssemed for Elott Engines is $147,000 If required, round all per unit answers to bhe nearest cent a. Determine the planewide factory overthead ae be anne beg tee factor oeeteed . Determine the factory overhead and direct labor cont per unit for each produ Factory Overhead .2 0.15 dh , 3 4 5 6 8 0 Search Tewtbook Solutions Chegg.com Show Me c. Use the information above to construct a budgeted gross profit report by product line for the year ended December 31, 202. Include the gross profit as a percent of sales n the last line of your report, rounded to one decimal place. Enter all amounts as positive numbers, except for a negative gross proft/gross profit percentage of sales Elliot Engines Inc Product Line Budgeted Gross Profit Reports eemler 31 202 Gross proft Gross profie percentage of sales t. What does the report in (c) indicate to you have the lowests proft as a percent of saies Valves may require a bigherorice or owercost to prof tablity " the other two products. PeviousNe wark saved 6 8 0 0