Question
Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for the January. Wax is required to produce a candle. Assume 13 ounces
Direct Materials Purchases Budget
Pasadena Candle Inc. budgeted production of 785,000 candles for the January. Wax is required to produce a candle. Assume 13 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,700 pounds. The desired January 31 wax inventory is 13,400 pounds. If candle wax costs $1.70 per pound, determine the direct materials 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.
Pounds of wax required for production: | |
CandlesEstimated beginning inventory, January 1Estimated ending inventory, January 31Unit price | - Select - |
Estimated beginning inventory, January 31Desired ending inventory, January 1Desired ending inventory, January 31Unit price | - Select - |
Total units available | fill in the blank 5 |
CandlesEstimated beginning inventory, January 1Estimated beginning inventory, January 31Unit price | - Select - |
Total pounds to be purchased | fill in the blank 8 |
Unit price | $fill in the blank 9 |
Total direct materials to be purchased in January | $fill in the blank 10 |
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