Direct Materials Purchases Budpet Pasadena Candle inci budgeted production of 740,000 candles for the January. Wax is required to produce a candle. Assume 15 aunces of wax is required for each cande. The estimated January 1 wax inventory is 28,800 pounds. The desired January 31 wax inventory is 12.700 pounds. If candle wax costs $1.50 per pound, determine the dired material purchases budget for January, (One pound = 16 ounces.) Round all computed answers to the nearest whole number, For those boxes in which you mist enter saibtracted of negative numbers use a minus sign