Direct materials purchases budget Quetzaitenango Candle Inc. budgeted production of 780,000 candles for March, Wax is required to produce a candle. Assume 13 ounces of wax is required for each candle. The estimated March 1 wax inventory is 18,600 pounds. The desired. March 31 wax inventory is 14,300 pounds. If candle wax costs $1.90 per pound, determin the direct materials purchases budget for March. (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