Sirmons 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 company estimated the labor- hours for the upcoming year at 95,000 labor-hours. The estimated variable manufacturing overhead was $12.18 per labor-hour and the estimated total fixed manufacturing overhead was $1,653,700. The actual labor-hours for the year turned out to be 74,000 labor-hours. The predetermined overhead rate for the recently completed year was closest to: $29.59 per labor-hour $17.41 per labor-hour $29.32 per labor-hour O $12.18 per labor-hour