Kay Company budgets overhead cost of $4,020,000 for the next year. The company uses direct labor hours as its overhead allocation base. If 120,000 direct labor hours are planned for the next year, what is the company's plantwide overhead rate? Multiple Choice $33.50 per direct labor hour. $0.15 per direct labor hour. $6.83 per direct labor hour. $0.29 per direct labor hour. $26.67 per direct labor hour