Direct Materials Purchases Budget Pasadena Candle inc, budgeted production of 755,000 candles for the January, Wax is required to produce a candie. Assume 11 ounces of wax is required for each candit The estimated January 1 wax inventory is 19,000 pounds. The desired January 31 wax inventory is 13,600 pounds. If candie wax costs 52.00 per pound, determine the direct matenals 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