Direct Materials Purchases Budget

Pasadena Candle Inc. budgeted production of $785,000$ candles for January. 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 January $31$ wax inventory is $12,500$ pounds. If candle wax costs $$1\mathrm{.}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:

Total units available

Total pounds to be purchased

Unit price $($per lb$.)$

Total direct materials to be purchased in January $