New England Candle, Co. budgeted production of 95,600 candles in 2008. Wax is required to produce a candle. Assume 8 ounces (one half of a pound) of wax is required for each candle. The estimated January 1, 2008, wax inventory is 1,400 pounds. The desired December 31, 2008, wax inventory is 1,100 pounds. If candle wax costs $3.60 per pound, determine the direct materials purchases budget for 2008.