teaming sedave 2 c. Use the information above to construct a budgeted gross profit report by product line for the year ended December 31, 20 rounded to one decimal place. Enter all amounts as positive numbers, except for a negative gross profit gross profit percenta Elliot Engines Inc. Product Line Budgeted Gross Profit Reports For the Year Ended December 31, 20Y2 Pistons Valves Cams Revenues Product Costs Direct materials Direct labor Factory overhead Total Product Costs Gross profit Gross profit percentage of Wales Pod Construct your report for each products Revos Direct materias - Director Factory overheaa erous profit overs Price Unit Volume Dr Marc Vateral cost per hit Unit Volume Drectories abo cost peolt from Rea Unit Volume Factoryveres Factory overhead content from Relix Unit Volunte Gross profiterontage Grosso takeAssignmentMain.do?invoker=&takeAssignme eBook Show Me How Product Costs and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate Elliott Engines Inc. produces three products-pistons, valves, and cams-for the heavy equipment industry. Elliott Engines has a factory overhead rate to allocate overhead to the three products. The factory overhead rate is based on direct labor hours. Inform Budgeted Volume Direct Labor Price Per Direct Materials (Units) Hours Per Unit Unit Per Unit Pistons 12.000 0.30 $32 $15 Valves 26,000 0.15 3 Cams 2.000 0.20 18 The estimated direct labor rate is $18 per direct labor hour Beginning and ending inventories are negligible and are thus, assumed to If required, round all per unit answer to the nearest canta a. Determine the plant de factory overhead rate b. Determine the factory overhead and direct laban Berunt for each product Direct Labor Factory Overhead Direct Labor Hours Per Unit Cost Per Unit Cost Per Unit Pitons 0.3 dih 5 114 5.4 0.15 dih 5.7 5 Como 02 7.6 3.0