Direct materials purchases budget Quetzaltenango Candle Inc. budgeted production of 720,000 candles for March. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated March 1 wax inventory is 17,600 pounds. The desired March 31 wax inventory is 12,700 pounds. If candle wax costs $1.80 per pound, determine the direct materials purchases budget for March. (One pound = 16 ounces.) Roun all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Quetzaltenango Candle Inc. Direct Materials Purchases Budget For the Month Ending March 31 Line Item Description Amount Pounds of wax required for production: Candles 630,000 Desired ending inventory, March 31 12,700 Total units available 642,700 Estimated beginning inventory, March 1 -17,600 Total pounds to be purchased 625,100 Unit price (per lb.) 1.80 Total direct materials to be purchased in March 1,125,180

Direct materials purchases budget Quetzaltenango Candle Inc. budgeted production of 720,000 candles for March. Wax is required to produce a candle. Assume 14 ounces of wax is required for each candle. The estimated March 1 wax inventory is 17,600 pounds. The desired March 31 wax inventory is 12,700 pounds. If candle wax costs $1.80 per pound, determine the direct materials purchases budget for March. (One pound = 16 ounces.) Roun all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Quetzaltenango Candle Inc. Direct Materials Purchases Budget For the Month Ending March 31 Line Item Description Amount Pounds of wax required for production: Candles 630,000 Desired ending inventory, March 31 12,700 Total units available 642,700 Estimated beginning inventory, March 1 -17,600 Total pounds to be purchased 625,100 Unit price (per lb.) 1.80 Total direct materials to be purchased in March 1,125,180

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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