Trim and discard crust from bread. Cut each slice of bread in half lengthwise. Brush both sides of bread slices with 1/4 cup melted butter, and arrange half of slices over bottom and sides of a 2-quart charlotte mold. Set remaining buttered bread slices aside.
Combine remaining melted butter and apples in a large skillet; cook over medium heat 10 minutes, stirring frequently. Sprinkle sugar and lemon juice over apples. Cook over medium heat, stirring frequently, until apples are tender and sugar has turned to syrup.
Spoon half of apple mixture into prepared charlotte mold. Combine applesauce and cinnamon; spoon over first apple layer. Spoon remaining apple mixture over applesauce mixture, and top with reserved buttered bread slices. Cover with aluminum foil. Bake at 400° for 10 minutes. Reduce heat to 375°, and bake an additional 30 minutes. Remove from oven; uncover and let cool completely in mold on a wire rack. Invert onto a serving platter, and top with whipped cream.