Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming ye the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 79,000 estimated variable manufacturing overhead was $7.38 per machine-hour and the estimated total fixed manufacturi $2,347,090. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $29.71 per machine-hour $36.07 per machine-hour $37.09 per machine-hour $7.38 per machine-hour