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A manufacturing company provided the following information from its accounting records for 2020: Expected production 80,000 labor hours Actual production 70,000 labor hours Budgeted overhead

A manufacturing company provided the following information from its accounting records for 2020:

Expected production 80,000 labor hours

Actual production 70,000 labor hours

Budgeted overhead $416,300

Actual overhead $382,100

What is the overhead application rate if the company bases it on direct labor hours? $____

Round your answer 2 decimal places.

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