Pasadena Candle Inc. budgeted production of 750,000 caridles for the January. Wax is required to...
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Accounting
Pasadena Candle Inc. budgeted production of 750,000 caridles for the January. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,400 pounds. The desired January 31 wax inventory is 13,000 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
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