The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor$-$hours. The direct labor budget indicates that $6,100$ direct labor$-$hours will be required in May. The variable overhead rate is $$8\mathrm{.}50$ per direct labor$-$hour. The company's budgeted fixed manufacturing overhead is $$111,630$ per month, which includes depreciation of $$24,960.$ 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

$$18\mathrm{.}30$

$$8\mathrm{.}50$

$$26\mathrm{.}80$

$$23\mathrm{.}30$