Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 34,700 labor-hours. The estimated variable manufacturing overhead was $6.11 per labor-hour and the estimated total fixed manufacturing overhead was $774,851. The actual labor-hours for the year turned out to be 31,000 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

Multiple Choice
$6.11 per labor-hour
$31.83 per labor-hour
$22.33 per labor-hour
$28.44 per labor-hour