Quetzaltenango Candle Inc. budgeted production of 685,000 candles for March. Wax is required to produce a candle. Assume 8 ounces of wax is required for each candle. The estimated March 1 wax inventory is 15,000 pounds. The desired March 31 wax inventory is 14,500 pounds. If candle wax costs $1.20 per pound, determine the direct materials purchases budget for March.