Before the year began, McCrae, Inc estimated its manufacturing overhead costs for the year to be $300,000 and estimated that 20,000 machine hours would be logged during production. The company use machine hours to apply manufacturing overhead to production. During the year, the company received an order from a customer for 12 identical units of its most popular product $1,000 in direct materials were requisitioned and $1, 500 in direct labor costs were incurred during the production of the units. A table of 16 machine hours were logged during the production of the units. Assuming a sales price of $716, the gross profit reported on each unit in the order equals (round All calculations to the nearest dollar i.e 560 not 559.8)