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 30,600 labor-hours. The estimated variable manufacturing overhead was $6.18 per labor- hour and the estimated total fixed manufacturing overhead was $626,076. The actual labor-hours for the year turned out to be 27,100 labor-hours. The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $26.64 per labor-hour $20.46 per labor-hour $6.18 per labor-hour $30.08 per labor-hour