Direct materials purchases budget Quetzaltenango Candle Inc. budgeted production of 755,000 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 17,300 pounds. The desired March 31 wax inventory is 13,400 pounds. If candle wax costs $1.30 per pound, determine the direct materials purchases budget for March. (One pound = 16 ounces.).