(1) If the applicable assets of the estate are insufficient to pay all claims in full, the personal representative shall make payment of claims in the following order:
(a) Costs and expenses of administration; then (b) Funeral expenses; then (c) Debts and taxes with preference under federal law and other laws of this state; then (d) All other claims.
(2) No preference shall be given in the payment of any claim over any other claim of the same class, and a matured claim shall not be entitled to a preference over unmatured claims.