Magnolia, Inc., manufactures bedding sets. The budgeted production is for 10,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,690 yards with the desired ending balance of 4,600 yards of material. If the material costs $8.80 per yard, determine the materials budget for the year. Magnolia, Inc., manufactures bedding sets. The budgeted production is for 10,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,690 yards with the desired ending balance of 4,600 yards of material. If the material costs $8.80 per yard, determine the materials budget for the year