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

Expected production	70000 labor hours
Actual production	66000 labor hours
Budgeted overhead	$700000
Actual overhead	$670000

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

$9.57 per hour

$10.15 per hour

$10.61 per hour

$10.00 per hour