Canoe Company's manufacturing accounting system uses direct labor costs to apply overhead to goods in process and finished goods inventories. Canoe Company's manufacturing costs for the year were: direct labor, $30,600; direct materials, $50,900; and factory overhead applied, $6,100. The overhead application rate was: (Round your answer to the nearest whole percent.) 166%. 60%. 502%. 12%. 20%.

Canoe Company's manufacturing accounting system uses direct labor costs to apply overhead to goods in process and finished goods inventories. Canoe Company's manufacturing costs for the year were: direct labor, $30,600; direct materials, $50,900; and factory overhead applied, $6,100. The overhead application rate was: (Round your answer to the nearest whole percent.)

•     166%.
•     60%.
•     502%.
•     12%.
•     20%. 

CLICK HERE TO GET THE ANSWER !!!!