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Primary Co. estimates 785,000 candles will be made next month. Each candle requires 1 pound...

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Accounting

Primary Co. estimates 785,000 candles will be made next month. Each candle requires 1 pound of wax. To start the month, Primary already has 16,000 pounds of wax. Primary also wants to end the month with 10,000 pounds of wax in inventory. Wax costs $1.24 per pound.

How many pounds of wax should be purchased for the month?

What is the total expected cost for the wax that is being purchased?

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