Direct materials purchases budget Quetzaltenango Candle Inc. budgeted production of 735,000 candles for March. Wax is required to produce a candle. Assume 15 ounces of wax is required for each candle. The estimated March 1 wax inventory is 16,100 pounds. The desired March 31 wax inventory is 14,000 pounds. If candle wax costs $1.90 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 Pounds of wax required for production: Candles 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 Amount 689,062 X 16,100 X Feedback Check My Work Remember to take into account materials required for production, desired ending materials inventory and estimated beginning materials inventory when calculating direct materials to be purchased.