17 The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor hours. The direct labor budget indicates that 6,600 direct labor-hours will be required in May. The variable overhead rate is $70 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $138.600 per month, which includes depreciation of $24.910. All other faxed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for May should be