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.

Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31

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