At the beginning of the current year Tidewater Company estimated the following costs: Direct materials $4,000 Direct labour 20,000 Rent on factory building 15,000 Sales salaries 25,000 Depreciation on factory equipment 8,000 Indirect labour 10,000 Production supervisor's salary 12,000 Tidewater Company estimated 20,000 labour hours to be worked during the year. Actual labour hours worked were 23,000 hours. If overhead is applied on the basis of direct labour hours, what will be the overhead applied for the year? $51,750. $49,500. $103,400. $75,900