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 21,200 machine-hours. The estimated variable manufacturing overhead was $5.32 per machine- hour and the estimated total fixed manufacturing overhead was $600,172. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $33.63 per machine-hour $5.32 per machine-hour $32.63 per machine-hour $28.31 per machine-hour