Direct materials purchases budgetQuetzaltenango Candle Inc. budgeted production of 725,000 candles for March. Wax is required to produce a candle. Assume 15 ounces of wax is required for each cand.estimated March 1 wax inventory is 16,500 pounds. The desired March 31 wax inventory is 12,700 pounds. If candle wax costs $1.20 per pound, determine the direct mapurchases budget for March. (One pound = 16 ounces.) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtrnegative numbers use a minus sign.Quetzaltenango Candle Inc.Direct Materials Purchases BudgetFor the Month Ending March 31Line Item DescriptionAmountPounds of wax required for production:Candles725,000 XDesired ending inventory, March 31✓12,700Total units available712,300 XEstimated beginning inventory, March 116,500 XTotal pounds to be purchased754,200 XUnit price (per lb.)1.2 ✓Total direct materials to be purchased in March905,040 X

Convert first the number of production to poundsCandles Production in units = 725,000 candles15…

Answered: Direct materials purchases budget…

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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