Direct Materials Purchases budget Pasadenu Candle Inc. budgeted production of 705,000 candles for the January. Wax is required to produce a candle. Assume is ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,600 pounds. The desired laneary 31 wax inventory is 13,900 pounds, If candle wax costs $1.30 per pound, determine the direct materials gurchases budget for January. (One pound - 16 cunces.) Round all computed answers to the nearest whole number, For those boxes in which you must enter subtracted or negative numbers use a minus fign