Direct materials purchases budget

Quetzaltenango Candle Inc. budgeted production of 720,000 candles for March. Wax is required to produce a candle. Assume 12 ounces of wax is required for each candle. The estimated March 1 wax inventory is 16,300 pounds. The desired March 31 wax inventory is 13,600 pounds. If candle wax costs $1.30 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