Question: please answer the questions marked incorrect. Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce

please answer the questions marked incorrect.
Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candle wax costs $1.24 per pound, determine the direct materials purchases budget for January (One pound = 16 ounces.) For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Direct Materials Purchases Budget For the Month Ending January 31 Pounds of wax required for production: Candles 785,000 Desired ending inventory, January 31 12,500 Total units available 503,125 Estimated beginning inventory, January 1 -16,000 Total pounds to be purchased 487,125 Unit price (per lb.) $ 1.24 Total direct materials to be purchased in January 604,035 Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for January. The estimated January 1 inventory is 35,000 units, and the desired January 31 inventory is 20,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Expected units to be sold 800,000 Desired ending inventory, January 31 20,000 820,000 Total units available Estimated beginning inventory, January 1 35,000 X Total units to be produced in January 785,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
