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 72,700 Estimated variable manufacturing overhead $ 3.48 per machine-hour Estimated total fixed manufacturing overhead $838,800 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $10.20 per machine hour 56.69 per machine-hour $8.67 per machine-hour $14.94 per machine hout