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 pcoming year at 44,800 machine hours. The estimated variable manufacturing overhead was $4.65 per machine-hour and the estimated total fixed manufacturing overhead was $1,239,616. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $32.32 per machine-hour $31.32 per machine-hour $4.65 per machine-hour