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Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours 72 , 800 Estimated variable manufacturing overhead $ 3.40 per machine-hour Estimated total fixed manufacturing overhead $ 838, 720 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $6.70 per machine-hour $10.20 per machine-hour C $14.92 per machine-hour O $8.68 per machine-hour