Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $61,400 and 2,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $63,350 and actual direct labor-hours were 1,850. The applied manufacturing overhead for the year was closest to: (Round your intermediate calculations to 2 decimal places.) O $53,819 O $58,475 O $61,643 O $56,795