Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 740,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,100 pounds. The desired December 31 wax inventory is 14,100 pounds. If candle wax costs $1.40 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:   Candles    Desired ending inventory, December 31    Total units available   Estimated beginning inventory, January 1    Total pounds to be purchased   Unit price $ Total direct materials to be purchased $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Direct Materials Purchases Budget

Pasadena Candle Inc. budgeted production of 740,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,100 pounds. The desired December 31 wax inventory is 14,100 pounds. If candle wax costs $1.40 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:  
Candles   
Desired ending inventory, December 31   
Total units available  
Estimated beginning inventory, January 1   
Total pounds to be purchased  
Unit price $
Total direct materials to be purchased $
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