The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $10,745 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $3,500 and direct labor cost of $2,300. Therefore, the company's overhead application rate is: Multiple Choice 66% of direct labor cost. 47% of direct labor cost. 141% of direct labor cost. 215% of direct labor cost. 152% of direct labor cost