Quetzaltenango Candle Inc. budgeted production of 740,000 candles for March. Wax is required to produce a...

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Quetzaltenango Candle Inc. budgeted production of 740,000 candles for March. Wax is required to produce a candle. Assume 11 ounces of wax is required for each candle. The estimated March 1 wax inventory is 18,600 pounds. The desired March 31 wax inventory is 12,900 pounds. If candle wax costs $1.50 per pound, determine the direct materials purchases budget for March. (One pound = 16 ounces.) Round 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 Pounds of wax required for production: Candles Desired ending inventory, March 31 Total units available Amount 506,875 X 12,900 V -8,152,900 X Estimated beginning inventory, March 1 -18,600 V Total pounds to be purchased Unit price (per lb.) Total direct materials to be purchased in March -8,134,300 X x 1.50 Quetzaltenango Candle Inc. budgeted production of 740,000 candles for March. Wax is required to produce a candle. Assume 11 ounces of wax is required for each candle. The estimated March 1 wax inventory is 18,600 pounds. The desired March 31 wax inventory is 12,900 pounds. If candle wax costs $1.50 per pound, determine the direct materials purchases budget for March. (One pound = 16 ounces.) Round 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 Pounds of wax required for production: Candles Desired ending inventory, March 31 Total units available Amount 506,875 X 12,900 V -8,152,900 X Estimated beginning inventory, March 1 -18,600 V Total pounds to be purchased Unit price (per lb.) Total direct materials to be purchased in March -8,134,300 X x 1.50