Mary's Mugs produces and sells various types of ceramic mugs. The businoss began operations on January 1, year 1, and its costs incurred during the year include these: Variable oosts (based on mugs produced Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs $ 5,000 30,730 990 2,440 Fixed costs: Administration and marketing costs Indirect manufacturing costs 11,300 4,280 On December 31, ye ar 1, direct materials inventory consisted of 5,000 pounds of material. Production in that year was 20,000 s 1 was $66,300. Finished mugs. All prices and unit variable costs remained constant during the year. Sales revenues for year goods inventory was $6,150 on December 31, year 1. Each finished mug requires 0 4 pounds of maternial. (Do not round intermediate calculations.) Required: a. Compute the direct materials inventory cost, December 31, year 1