LenDin Beds is expected to sell 6,200 beds in January and 7,100 in February. The company will produce 6,500 beds in January and 7,000 beds in February 2022. Each bed requires 2 kilograms of sponge and one-half hour of direct labor (30 minutes). A sponge costs $1.50 per kilogram and direct labor per hour is $12.50. Manufacturing overhead is applied at a rate of 120% of direct labor costs.The company has 2,000 kilograms of sponge as of December 31, 2021, and the company wants to maintain an inventory of 25% of the next month's production material. What is the total amount to be budgeted for manufacturing overhead for the month of January? $52,500 $18,262.50 $24,750 $9,187.50