Jody Jewelry manufactures jewelry. In October Jody is planning to make 500 rings, 400 bracelets, and 210 pendants. The company expects the total manufacturing overhead for the year would be $3,450,000 and that total direct labor hours for the year would be 75,000. Actual overhead incurred for October was $295,920. Each ring requires 6.25 hours of labor to manufacture; each bracelet requires 5.5 hours of labor to manufacture, and each pendant requires 4 hours of labor to manufacture. What is the standard overhead cost per ring?

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