Homer and Donuts Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year Data for the upcoming year appear below: Estimated direct labor hours ...................... 750 hours Actual direct labor hours. ........................... 580 hours Estimated machine hours ................................ 50,000 hours Actual machine hours ................... 61, 250 hours Estimated variable manufacturing overhead. ................. $6.32 per machine hour Estimated total fixed manufacturing overhead ....................... $758,000 The predetermined overhead rate for the recently completed year was closest to: $21.48 $15.16 $6.32 $2780