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Quetzaltenango Candle Inc. budgeted production of 710,000 candles for March. Wax is required to produce...

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Accounting

Quetzaltenango Candle Inc. budgeted production of 710,000 candles for March. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated March 1 wax inventory is 18,900 pounds. The desired March 31 wax inventory is 13,200 pounds. If candle wax costs $1.40 per pound, determine the direct materials purchases budget for March. (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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