$32.55 per machine-hour

$31.55 per machine-hour

$4.47 per machine-hour

$28.08 per machine-hour

Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 28,100 machine-hours. The estimated variable manufacturing overhead was $4.47 per machine-hour and the estimated total fixed manufacturing overhead was $789,048. The predetermined overhead rate for the recently completed year was closest to: