Pasadena Candle Inc. budgeted production of 780,000 candles for the January. Wax is required to produce a candle. Assume 14 ounces of wax is required for each The estimated January 1 wax inventory is 19,000 pounds. The desired January 31 wax inventory is 14,300 pounds. If candle wax costs $2.00 per pound, determine the direct materials purchases budget for January. (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