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Concord Corporation provided the following information from its accounting records for 2019. Estimatedproduction50000 labor hoursActual production46000 labor hoursBudgeted overhead$1000000 Actual overhead$960000 How much is the

Concord Corporation provided the following information from its accounting records for 2019.

Estimatedproduction50000

labor hoursActual production46000

labor hoursBudgeted overhead$1000000

Actual overhead$960000

How much is the overhead application rate if Concord Corporation bases the rate on direct labor hours?

$20.87 per hour

$19.20 per hour

$20.00 per hour

$21.74 per hour

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