Check my work Gallucci Incorporated makes a single product-a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budceted variable manufacturing overhead Budgeted fixed manufacturing overhead Total budgeted manufacturing overhead Budgeted hours $87,780 412,965 $500,745 00:38-30 labor hours 66,500 eBook Print The predetermined overhead rate is closest to: Multiple Choice $7.85 per labor-hour $14.31 per labor-hour $7.53 per labor-hour 51492 per $14.92 per lebor-hour