Production Budget Pasadena Candle Inc. projected sales of 47,000 candles for the year. The estimated January 1 inventory is 2,800 units, and the desired December 31 inventory is 5,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Year Ending December 31 Total units available Total units to be produced Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 775,000 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 16,600 pounds. The desired December 31 wax inventory is 13,500 pounds. If candle wax costs $2.00 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 Cand le Inc. Direct Materials Purchases Budget For the Year Ending December 31 Pounds of wax required for production Total units available Total pounds to be purchased Unit price Total direct materials to be purchased