TB MC Qu. 2-37 Longobardi Corporation bases its predetermined overhead ... 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 55 81 per labor hour and the estimated total fixed manufacturing overhead was $891990. The actual labor hours for the year turned out to be 27100 labor hours. The predetermined overhead rate for the recently completed year was closest to