Exercise 4-34 (Algo) Target Costing and Pricing (LO 4-3) Whitmore Glassware makes a variety of drinking glasses and mugs. The company's desgners have discovered a market for a 16 ounce mug with college logos Market research indicates that a mug like this would sell well in the market priced at $2795 Whitmore only introduces a product if they can an operating profit of 30 percent of costs Required: What is the highest acceptable manufacturing cost for which Whitmore would be wiling to produce the mugs? (Round your answer to 2 decimal places.)