Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 735,000 candles 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 16,300 pounds. The desired January 31 wax inventory is 14,100 pounds. If candle wax costs $1.20 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.   Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production:           Total units available       Total pounds to be purchased   Unit price $ Total direct materials to be purchased in January $

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 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 16,300 pounds. The desired January 31 wax inventory is 14,100 pounds. If candle wax costs $1.20 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.

 
Pasadena Candle Inc.
Direct Materials Purchases Budget
For the Month Ending January 31
Pounds of wax required for production:  
   
   
Total units available  
   
Total pounds to be purchased  
Unit price $
Total direct materials to be purchased in January $
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