Direct materials mirchuses budget Quetzaltenango Candie Inc, budgeted production of 760,000 candles for March. Wax is required to produce a candie. Assume 10 ounces of wax is required for each eandle. The estimated March 1 wax inventory is 17,800 pounds. The desired March 31 wax inventory is 14,100 pounds. If candle wax costs $1.50 per pound, determine the direct materials purchases budget for March. (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