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Consider Derek's budget information: materials to be used, $64,500; direct labor, $198,700; factory overhead, $400,300; work in process inventory on January 1, $185,000; and work

Consider Derek's budget information: materials to be used, $64,500; direct labor, $198,700; factory overhead, $400,300; work in process inventory on January 1, $185,000; and work in progress inventory on December 31, $194,700. What is the budgeted cost of goods manufactured for the year?

a.$653,800

b.$194,700

c.$848,500

d.$663,500

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