Linscott Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During July, the company budgeted for 5,400 units, but its actual level of activity was 5,380 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for July: Data used in budgeting:

	Fixed element per month	Variable element per unit
Revenue		$36.60
Direct labor	$0	$5.30
Direct materials	0	11.30
Manufacturing overhead	42,800	1.90
Selling and administrative expenses	29,900	0.10
Total expenses	$72,700	$18.60

Actual results for July:

Revenue	$206,318
Direct labor	$29,814
Direct materials	$58,224
Manufacturing overhead	$51,982
Selling and administrative expenses	$29,458

The manufacturing overhead in the flexible budget for July would be closest to:

		$52,175
		$51,789
		$53,022
		$53,060