Pasadena Candle Inc. budgeted production of 770,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,700 pounds. The desired December 31 wax inventory is 13,300 pounds. If candle wax costs $1.30 per pound, determine the direct materials purchases budget for the year. (One pound = 16 ounces.) Round all computed answers to the nearest whole dollar. 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 Year Ending December 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unit price Total direct materials to be purchased

Pasadena Candle Inc. budgeted production of 770,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,700 pounds. The desired December 31 wax inventory is 13,300 pounds. If candle wax costs $1.30 per pound, determine the direct materials purchases budget for the year. (One pound = 16 ounces.) Round all computed answers to the nearest whole dollar. 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 Year Ending December 31 Pounds of wax required for production: Total units available Total pounds to be purchased Unit price Total direct materials to be purchased

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Description: Pasadena Candle Inc. budgeted production of 770,000 candles for the year. Wax is required to produce a candle. Assume 10 ounces of wax is required for each candle.The estimated January 1 wax inventory is 16,700 pounds. The desired December 31 wax in

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 3BE: Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to produce...

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