The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 7700 direct labor-hours will be required in May. The variable overhead rate is $790 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $147,840 per month, which includes depreciation of $24.930 All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for May should be Multiple Choice o . 32710 o 52360 o $19 20 o $790