Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candies for January, Wax is required to produce a candie. Assume 10 ounces of wax is required for each candie. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January (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 Month Ending January 31 Pounds of wax required for production: Candles Desired ending inventory, January 31 Total units available tatimated beginning inventory, January 1 Total pounds to be purchased Unjt price (per 16.) Total direct materials to be purchased in January 952.83 x 332.13 X 14,300 x 547.113 X 17.900 X 529,213 X 1.80 X Remember to take into account materials required for production desired ending materiais wventory and strated Do E IN gorec Check My Vork 1 more Check My Work uses remaining Next