ses Budget Pasadena Candle Inc. budgeted production of 735,000 candles for the January. Wax is required to produce a candle. Assume 12 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,400 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.50 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. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Candles x Desired ending inventory, January 31 12.500 Total units available Total pounds to be purchased Unit price Total direct materials to be purchased in January Feedback Check My Work Remember to take into account materials required for production, desired ending materials inventory and estimated beginning materials inventory when calculating direct materials to be purchased.