To formulate the inequality based on the given information, we need to express the total number of beads used for the bracelets and necklaces in relation to the total number of beads available.
We have:
- Each bracelet uses 34 beads, so the total number of beads used for \( x \) bracelets is \( 34x \).
- Each necklace uses 76 beads, so the total number of beads used for \( y \) necklaces is \( 76y \).
The total number of beads spent on bracelets and necklaces should not exceed the total number of beads available, which is 980. Thus, we can write the inequality as:
\[ 34x + 76y \leq 980 \]
This inequality is in standard form.