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PLEASE HELP DUE IN 20 MINUTES WILL GIVE GOOD RATING Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 780,000 candles for the year.
PLEASE HELP DUE IN 20 MINUTES WILL GIVE GOOD RATING
Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 780,000 candles for the year. Wax is required to produce a candle. Assume 15 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,900 pounds. The desired December 31 wax inventory is 13,200 pounds. If candle wax costs $1.50 per pound, determine the direct materials purchases budget for the year. (One pound = 16 ounces.) Round all computed answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Year Ending December 31 Pounds of wax required for production: Candles Desired ending inventory, December 31 Total units available Estimated beginning inventory, January 1 Total pounds to be purchased Unit price Total direct materials to be purchasedStep by Step Solution
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