Shamrock Corporation applies manufacturing overhead based on direct labor hours. Shamrock estimates its budgeted manufacturing overhead cost for the coming year to be $400400 and its budgeted direct labor hours to be 110000 hours. What is Shamrocks budgeted overhead rate?

O $0.27 per direct labor hour O $3.64 per direct labor hour O $270 per direct labor hour O $27 per direct labor hour