For the past 8 months, Jinan Corporation has experienced a steady Increase in its cost per unit even though total costs have remained stable. This cost per unit Increase may be due to costs If the level of activity at Jinan is Multiple Choice variable, Increasing variable, decreasing O fixed. Increasing O fixed, decreasing 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 Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead 36,000 $3.01 per machine-hour $1,058, 040 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $32.81 per machine-hour $29.39 per machine-hour $3.01 per machine-hour $32.40 per machine-hour