Barr Mfg. provided the following information from its accounting records for 2019: Estimated production 60,000 labor hours Actual production 56,000 labor hours Budgeted overhead $900,000 Actual overhead $870.000 How much is the overhead application rate if Barr bases the rate on direct labor hours? $16.07 per hour $15.00 per hour $14.50 per hour $15.54 per hour