The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor hours. The direct labor budget indicates that 6,600 direct labor hours will be required in May The variable overhead rate is $710 per direct labor hour. The company's budgeted fixed manufacturing overhead is $138.600 per month, which includes depreciation of $24,910. 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 $24.60 52100 S2810 S700