Direct Materials Purchases Budget Pasadena Candie Inc. budgeted production of 770,000 candies for the January. Wax is required to produce a candile. Ascume 13 aunces of wax is required for each candle The estimated January 1 wax inventory is 17,700 pounds. The desired January 31 wax inventory is 13,600 pounds. If candle wax costs $2.00 per pound, determine the direct materials purchases budget for January. (One pound = 16 ounces.) Round all computed answers to the nearest whole number, For those boxes in which yeu must enter subtracted of negative numbers use a minus sign.