Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 39,500 labor-hours. The estimated variable manufacturing overhead was $6.58 per labor-hour and the estimated total fixed manufacturing overhead was $972,095. The actual labor-hours for the year turned out to be 37,000 labor-hours. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $31.19 per labor-hour $24.61 per labor hour $6.58 per labor hour $33,30 per labor hour