Question 3 Minton Company provided the following information from its accounting records for 2012: 60,000 labor hours Expected production Actual production 56,000 labor hours Budgeted overhead $1,500,000 $1,450,000 Actual overhead How much is the overhead application rate if Minton Company bases it on direct labor hours? $25.00 per hour $26.79 per hour $25.89 per hour $24.17 per hour B