Pasadena candle inc, budgeted production of 785000 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 26000 pounds. The desired December 31 wax inventory is 12500 pounds . If candle wax cost $1.24 per pound , determine the direct material purchase budget for the year
