Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 735,000 candles for the year. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated January 1 wax inventory is 18,600 pounds. The desired December 31 wax inventory is 13,400 pounds. If candle wax costs $1.60 per pound, determine the direct materials purchases budget for the year. (One pound = 16 ounces.) Round all computed answers to the nearest whole dollar. 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 Year Ending December 31 Pounds of wax required for production:     fill in the blank 2   fill in the blank 4 Total units available fill in the blank 5   fill in the blank 7 Total pounds to be purchased fill in the blank 8 Unit price $fill in the blank 9 Total direct materials to be purchased $fill in the blank 10

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Direct Materials Purchases Budget

Pasadena Candle Inc. budgeted production of 735,000 candles for the year. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated January 1 wax inventory is 18,600 pounds. The desired December 31 wax inventory is 13,400 pounds. If candle wax costs $1.60 per pound, determine the direct materials purchases budget for the year. (One pound = 16 ounces.) Round all computed answers to the nearest whole dollar. 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 Year Ending December 31
Pounds of wax required for production:  
  fill in the blank 2
  fill in the blank 4
Total units available fill in the blank 5
  fill in the blank 7
Total pounds to be purchased fill in the blank 8
Unit price $fill in the blank 9
Total direct materials to be purchased $fill in the blank 10
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