Clay Co produces ceramic coffee mugs and pencil holders. Manufacturing overhead is assigned to production using an application rate based on direct labor hours Required: a. For 2019, the company's cost accountant estimated that total overhead costs incurred would be $660,000 and that a total of 66.000 direct labor hours would be worked Calculate the amount of overhead to be applied for each direct labor hour worked on a production run (Round your answer to 2 decimal places.) Predetermined overhead application rate b. A production run of 350 coffee mugs used raw materials that cost $580 and used 60 direct labor hours at a cost of $1160 per hour Calculate the cost of each coffee mug produced. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Cost per color mug produced c. At the end of October 2019.260 coffee mugs made in the production run in part bhad been sold and the rest were in ending Inventory Calculate (1) the cost of the coffee mugs sold that would have been reported in the income statement and (2) the cost Included in the October 31, 2019, finished goods inventory (Do not round Intermediate calculations. Round your answers to 2 decimal places.) Cost of coffee mugs sold Cost of coffee mugs in inventory