Bonita Industries provided the following information from its accounting records for 2019. Estimated production Actual production 40000 labor hours 36000 labor hours $800000 $760000 Budgeted overhead Actual overhead How much is the overhead application rate if Bonita Industries bases the rate on direct labor hours? $21.11 per hour $22.22 per hour O $19.00 per hour $20.00 per hour