Soft Glow Candle Co. Budgeted production of 78,900 candles in 2010. Wax is required to produce a candle. Assume 8 once (one half of pound) of wax is require for each candle. The estimated January 1,2010, wax inventory is 2,000 pounds. The desired December 31, 2010, wax inventory is 2,400 pounds. If candle wax cost $3.20 per pound . determine the direct materials purchase budget.