Cost of Goods Sold Budget 20Y4, wax inventory is 3,100 pounds. The desired December 31,20Y4, wax inventory is 5,200 pounds. Candle wax costs $3.80 per pound. Each candle requires molding. Assume that 9 minutes are required to mold each candle. Molding labor costs $15.00 per hour. Round your interim calculations to nearest cent, if required