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Magnolia, Inc. manufactures bedding sets. The budgeted production is for 31,900 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,400 yards with the desired ending balance of 5,600 yards of material. If the material costs $4.60 per yard, determine the materials budget for the year. Dean Company has sales of $102,000, and the break-even point in sales dollars is $83,640. Determine the company's margin of safety percentage. Round answer to the nearest whole number. % Consider Derek's budget information: materials to be used, $63,500; direct labor, $201,800; factory overhead, $392,000; work in process inventory on January 1, $188,300; and work in progress inventory on December 31, $192,300. What is the budgeted cost of goods manufactured for the year? Oa. $657,300 Ob. $653,300 Oc. $845,600 Od. $192,300 The journal entry to record the purchase of $21,213 of raw materials is $21,213 $21,213 a. Materials Accounts Payable Ob. Materials Accounts Receivable $21,213 $21,213 Oc. Inventory $21,213 Accounts Receivable $21,213 Od. Inventory $21,213 Cash $21,213