Cycling Corporation identified the following budgeted data for this year. The company produces two types of bicycles, Recreational and Racing. Activity Budgeted Overhead Cost Budgeted Activity Handling materials $ 2,500,000 400,000 parts Quality inspection 360,000 6,000 inspections Purchasing 100,000 4,000 orders Total $ 2,960,000 Compute a single plantwide overhead rate assuming that the company allocates overhead cost based on 10,000 budgeted direct labor hours. Multiple Choice $296 per DLH. $316 per DLH. $493 per DLH. $250 per DLH. $740 per DLH