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Cost of goods sold budgetQuetzaltenango Candle Inc. budgeted production of 6 8 5 , 0 0 0 candles for March. Each candle requires molding. Assume

Cost of goods sold budgetQuetzaltenango Candle Inc. budgeted production of 685,000 candles for March. Each candle requires molding. Assume that 6 minutes are required to mold each candle. If molding labor costs $15 per hour, determine the direct labor cost budget for March. Wax is required to produce a candle. Assume 342,000 pounds of material will be purchased during March. The candle wax costs $1.20 per pound.Prepare a cost of goods sold budget for Quetzaltenango Candle Inc. using the information above. Assume the estimated inventories on March 1 for finished goods and work in process were $300,000 and $41,250, respectively and direct materials wax inventory of 15,000 pounds. Also assume the desired inventories on March 31 for finished goods and work in process were $200,000 and $28,500, respectively and direct materials wax inventory of 14,500 pounds. Factory overhead was budgeted at $400,000. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

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