Marigold Corp. provided the following information from its accounting records for 2019. Expected production 40000 labor hours Actual production 36000 labor hours Budgeted overhead $ 1000000 Actual overhead $ 960000 How much is the overhead application rate if Marigold Corp. bases the rate on direct labor hours? O $27.78 per hour O $24.00 per hour O $25.00 per hour O $26.67 per hour