A company budgets to sell 77,000 units of its product at a price of $30. Each unit of the product requires 0.5 pounds of materials, which cost $3 per pound. The beginning inventories are 3,000 units of the product and 2,000 pounds of materials. The com- pany budgets ending inventories of 4,000 units of the product and 1,000 pounds of materials. What is the budgeted cost of purchases of materials? A B $111,000. $114,000. $117,000. $120,000. D (3 points)