10) Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates (2pts) to allocate $396,000 of indirect costs. The bankwide rate could be based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for Consumer Loans and a dual rate based on direct labor hours and the number of loans processed for Commercial Loans. The following information was gathered for the upcoming period: Department DLH Loans Processed Direct Costs Consumer 14,000 700 $ 280,000 Commercial 8,000 300 $ 180,000 What is the overhead rate if Banc Corp. Trust allocates the indirect costs using direct labor hours? 0 $460 per loan. $396 per loan. $20.91 per hour $18 per hour