Techno Incorporated manufactures two models of cameras that can be used as cell phones, MPX and digital camcorders Annual Tales to the High P Great P 10.600 18,600 Techno uses a volume based costing systems to apply factory overhead based on direct labor dollars. The unit prime costs of each product were as follows Direct materials Diri labor budest factory overhead Engineering and Design Quality Control Machinery Miscellaneous Overhead Total Wish Y 1360 Geway P $26.00 $ 18 20 1 12.00 12.950 mgineering hours Inspection hours $403.200 296, 700 33,830 machine hours 506,700 26.510 direct stor hours 102,300 $1.308,900 Techno's controller had been researching activity-based costing and decided to switch to it. A special study determined Techno's two products have the following budgeted activities Engineering and design hour Quality control Inspection hours Machine hours High 7 1.020 5,700 20,340 12, 060 1,500 7,250 13, 490 Labor hours 14, 450 What is the overhead application rate using the firm's volume-based costing system? (Rounded to the nearest percent or cents) O Multiple Choice 317 percent of direct labor co 5129 percem of director co 699 percent of direct labor co $51.29 per direct labor hour 5051 percent of director co