Sydney Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: Estimates made at the beginning of the year: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead Actual machine-hours for the year $ 31,400 5.66 per machine-hour 639,618 27,500 $ The predetermined overhead rate for the recently completed year was closest to: $26.03 per machine-hour $25.33 per machine hour $5.66 per machine-hour $20.37 per machine-hour