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Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces
Direct Materials Purchases Budget
Pasadena Candle Inc. budgeted production of 785,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired December 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, prepare the direct materials purchases budget for the year. (One pound = 16 ounces.) 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 Year Ending December 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unit price Total direct materials to be purchasedStep by Step Solution
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