Walsh 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 $239,700 and 4,700 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $242,000 and actual direct labor- hours were 4,600. The predetermined overhead rate for the year was closest to: Select one: a. $51.00 b. $52.61 c. $49.91 Od. $51.49