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For the year 2021, Jones Company budgeted $220,000 for direct labor and $460,000 for factory overhead. Jones also budgeted 12,000 direct labor hours. Jones applies

For the year 2021, Jones Company budgeted $220,000 for direct labor and $460,000 for factory overhead. Jones also budgeted 12,000 direct labor hours. Jones applies overhead based on direct labor hours. What is the standard overhead rate per hour for 2021? Round answer to closest cent.

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