Product nests and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate Eliott Engines Inc. produces three products-pistons, valves, and cams-for the heavy equipment industry. Elliott 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: Pistons Valves Cams Budgeted Volume (Units) Direct Labor Hours Per Unit Price Per Direct Materials Unit Per Unit 12,000 0.30 $39 $19 28,000 0.15 10 3 1,000 0.20 51 22 The estimated direct labor rate is $22 per direct labor hour. Beginning and ending inventories are negligible and are thus assumed to be zero. The budgeted factory overhead for Ellett Engines is $248,000 If required, round all per unit answers to the nearest cent a. Determine the plantwide factory overhead rate. per dih b. Determine the factory overhead and direct labor cost per unit for each product. Factory Overhead Direct Labor Direct Labor Hours Per Unit Pistons dih Valves dih Cams dh Cost Per Unit Cost Per Unit