Direct Materials Purchases Budget Pasadena Candle Inc, budgeted production of 735,000 candles for the January. Wax is required to produce a candie. Assume 12 ounces of war is required for each cand The estimated January 1 wax inventory is 17.000 pounds. The desired January 31 wax inventory is 12,500 pounds. If candie wax costs 51.30 per pound, determine the direct materials purchases budget for January. (One pound = 16 ounces.) Round all computed answers to the nearest whale number, for those boxes in which you muet enter subtracted or negative numbere use a minus slgn.