Bonita, Inc. considers machine hours to be the best activity base for applying its manufacturing overhead. In the current period, the estimate of annual overhead costs for its jobs was $2950000. The company used 1000 hours of processing on Job No. B12 during the period and incurred overhead costs totaling $2650000. The budgeted machine hours for the year totaled 20000. How much overhead should be applied to Job No. B12? $2950 $2650 $147500 $132500