Sheridan Company provided the following information from its accounting records for 2019: Estimated production Actual production Budgeted overhead Actual overhead 100000 labor hours O $14.40 per hour $15.00 per hour $15.63 per hour O $15.00 per hour 96000 labor hours $1500000 $1440000 How much is the overhead application rate if Sheridan Company bases it on direct labor hours?

Sheridan Company provided the following information from its accounting records for 2019: Estimated production Actual production Budgeted overhead Actual overhead 100000 labor hours 96000 labor hours $1500000 $1440000 How much is the overhead application rate if Sheridan Company bases it on direct labor hours? $14.40 per hour $15.00 per hour $15.63 per hour $15.00 per hour