Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candile requireo molding. Assume that six minutos are required to mold each candle. If molding labor costs 418 per hour, determine the direct labor cost budget for January, Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased dusing January. The caridle wax costs $1,24 per poind. Prepare a cost of goods sold budget for Pasadena Candle inc-using the information above, Asgume the estimated inventories on January i for finished goods and work in process were $200,000 and $41,250, respectively and direct materials wax inventory of 16,000 pounds. Asso assame the desired inventories of 2 anuary 31 for finished goods and work in process were- 120,000 and 528,500, respectively and direct materials wix inventory of 12,500 pounds. Factory overhead was budoeted at $300,000. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Direct materials: Cost of direct materiats placed in production Total work in process during period