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Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes are requi $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc. using the information above. Assume the estimated inventories on January 1 $200,000 and $41,250, respectively and direct materials wax inventory of 16,000 pounds. Also assume the desired inventories on January $120,000 and $28,500, respectively and direct materials wax inventory of 12,500 pounds. Factory overhead was budgeted at $300,000. F subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Cost of Goods Sold Budget For the Month Ending January 31 X Cost of finished goods available for sale Direct materials: Cost of direct materials placed in production Qoo $ 785,000 X

Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that sx minutes are requ $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc, using the information above. Assume the estimated inventonies on January 1 $200,000 and $41,250, respectively and direct materials wax inventory of 16,000 pounds. Also assume the desired inventories on January $120,000 and $28,500, respectively and direct matenals wax inventory of 12,500 pounds. Factory overhead was budgeted at $300,000. subtracted or negative numbers use a minus sign

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