bennys Manufacturers estimate overhead based on machine hours. In December 2021, management estimated that total overhead costs would be $ 600,000 for 5,000. In 2022, 1,000 units were produced using $ 50,000 in materials, $ 8,000 in labor, and 4,800 machine hours. The actual overhead costs incurred were $ 588,000.

Required: Calculate over-or underapplied overhead. Calculate the cost per unit. Prepare the relevant journal entries.