Micro Enterprises planned to produce 120,000 lerts per year. Annual overheads, of which 32.5 % are variable, are estimated at $320,400. Each lert takes 1.2 machine hours and 3 labor hours to produce. The firm allocates overhead by direct labor hours. In February, when 11,000 lerts were produced, 32,000 direct labor hours were recorded and expenditures on overheads amounted to $29,650. Which is true for this month? The overhead absorption rate is $0.9266 per DLH Overhead applied is $29,370 Overhead applied is $29,650 Overhead applied is $28,480 None of the above Q are variable, are estimated at $320,400. Each lert takes 12 mach ditures on overheads amounted to $31,200. Which is true for this Save All Answ Contidential Document - Not A ursuant to Ohio l Privileged