Dream Custom uses machine hours to apply overhead on their production. During 2022, Dream Custom had the following results: Overhead Machine Hours Direct Materials Direct Labor Budget $350,000 $ 50,000 Actual $352,000 $ 49,000 $210,000 $350,000 Calculate the predetermined overhead rate? How much overhead was applied during 2022? Was overhead overapplied or underapplied during 2022? What was the amount that was overapplied or under applied in 2022? Prepare the journal entry to close out the over- or underapplied overhead. Account Name Debit Credit