Magnolia Candle Co. budgeted production of 74,200 candles in 2014. Wax is required to produce a candle.
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Magnolia Candle Co. budgeted production of 74,200 candles in 2014. Wax is required to produce a candle. Assume eight ounces (one-half of a pound) of wax is required for each candle. The estimated January 1, 2014, wax inventory is 2,500 pounds. The desired December 31, 2014, wax inventory is 2,100 pounds. If candle wax costs $ 4.10 per pound, determine the direct materials purchases budget for 2014.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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