Sheridan provided the following information from its accounting records for 2022: Expected production 56000 labour hours Actual production 54000 labour hours Budgeted overhead $1680000 Actual overhead $1630000 How much is the overhead application rate if Sheridan bases the rate on direct labour hours? O $29.11 per direct labour hour O $30.19 per direct labour hour $30.00 per direct labour hour $31.11 per direct labour hour