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 labour-hours 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?Group of answer choices

$22.00$22.40$25.00$17.60$20.00