During 2024, Hi-End Furniture Co. (HFC) made 6,000 desk chairs and 6,000 file cabinets, which need the following overhead activities during production: Machine usage to mill lumber and metal Direct labor hours to assemble the tables through welding The electricity costs related to machine usage for the year was $36,000, while welding materials costs were $48,000. 6. If HFC applied overhead costs to all products using a single application rate, what would the overhead application rate be in 2024