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Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Each candle requires molding. Assume that 12 minutes are required to mold each candle. If

Magnolia Candle Inc. budgeted production of 74,200 candles in 20Y4. Each candle requires molding. Assume that 12 minutes are required to mold each candle.

If molding labor costs $14.00 per hour, determine the direct labor cost budget for 20Y4. Round your interim calculations to nearest cent, if required.

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