Swifty Corporation provided the following information from its accounting records for 2017.

Expected production	50000 labor hours
Actual production	46000 labor hours
Budgeted overhead	$700000
Actual overhead	$670000

How much is the overhead application rate if Swifty Corporation bases the rate on direct labor hours?

$14.57 per hour

$15.22 per hour

$14.00 per hour

$13.40 per hour