Direct materials purchases budget

Quetzaltenango Candle Inc. budgeted production of $700,000$ 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 $18,500$ pounds. The desired March $31$ wax inventory is $13,700$ pounds. If candle wax costs $$1\mathrm{.}70$ per pound, determine 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.

Quetzaltenango Candle Inc.

Direct Materials Purchases Budget

For the Month Ending March $31$

Line Item Description

Amount

Pounds of wax required for production:

Desired ending inventory, March $31,$

Total units available

Estimated beginning inventory, March $1$

Total pounds to be purchased

Unit price $($per lb$.)$

Total direct materials to be purchased in March