Suko Co. applies manufacturing overhead on the basis of direct labour-hours. On December 31, 2020, Suko's manufacturing overhead account showed a $45,000 credit balance. On January 1, 2020, Suko estimated that it would incur 15,000 direct labourhours during 2020 . The actual number of direct labour-hours was 18,750 . Completed job cost sheets show that $300,000 in manufacturing overhead was transferred to the finished goods account. There were no jobs in process at the beginning of the year and 1 job was partially completed at the end of the year, with $75,000 in applied overhead. What is the estimated overhead rate? $25.00 $20.00 $17.60 $2200