Company, Inc. applies overhead on the basis of direct labour hours. At the beginning of the year, Company, Inc. estimates overhead to be $540,000, machine hours to be 150,000, and direct labour hours to be 90,000. During January, Company, Inc. has 8,000 direct labour hours and 12,000 machine hours. Refer to the Figure. What is the overhead applied for January? Oa. $26,800 Ob. $40,200 Oc. $48,000 Od. $44,000