Direct Materiais Purchase Budget Pasadena Candle Inc. budgeted production of 755,000 candles for the January, Wax is required to produce a candle, Astume 10 ounces of wax is required for each candle The estimated Janoary I wax inventory is 16.900 pounds. The desired January 31 was inventory s 12,500 pounds. If candie wax costs $1.60 per pound, determine the direct materiale purchases budget for January (One pound = 16 ounces) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unitrice Total direct materials to be purchased in January