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 60,700 machine-hours. The estimated variable manufacturing overhead was $4.34 per machine-hour and the estimated total fixed manufacturing overhead was $1,723,880. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice O $28.40 per machine hour O $31.74 per machine-hour O $4.34 per machine-hour $32.74 per machine-hour MacBook Air