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 22,900 machine-hours. The estimated variable manufacturing overhead was $6.67 per machine-hour and the estimated total fixed manufacturing overhead was $665,932. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $6.67 per machine-hour $29.08 per machine-hour $35.75 per machine-hour $34.75 per machine-hour