Walsh Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. Estimated total fixed manufacturing overhead from the beginning of the year $ 310,000

Estimated activity level from the beginning of the year 20,000 machine-hours

Actual total fixed manufacturing overhead $ 338,000

Actual activity level 18,300 machine-hours

The predetermined overhead rate is closest to: Select one: a. $16.90 b. $16.94 c. $18.47 d. $15.50