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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 72,400

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 72,400
Estimated variable manufacturing overhead $ 3.50 per machine-hour
Estimated total fixed manufacturing overhead $ 838,720
The predetermined overhead rate for the recently completed year was closest to:
Multiple Choice
$10.50 per machine-hour
$8.63 per machine-hour
$6.63 per machine-hour
$15.08 per machine-hour

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