Indigo Company, a labor-intensive manufacturer, compiled the following data for the current period: Budgeted Manufacturing Overhead Budgeted Direct Labor Hours Budgeted Direct Labor Cost Budgeted Machine Hours Actual Manufacturing Overhead incurred Actual Direct Labor Hours used Actual Direct Labor Cost incurred $622000 200000 hours $321000 100000 machine hours $521000 150000 hours $346000 - / 1 Assuming that Indigo Company uses direct labor hours as a cost driver, determine the budgeted manufacturing overhead rate for the current period? $6.22/direct labor hour $1.94/direct labor hour $8.42/direct labor hour O $3.11/direct labor hour