Bert and Dennis,
Thanks for the responses!!
I was looking at making up an wax-oil paste using beeswax and mineral oil. What was confusing me were the ratios that I was getting on the internet. The wax to oil wax ratios varied from 6:1 to 1:5. That lends itself to Dennis? comment about not over thinking it. (As many of you know, I love to over think things. These discussions are half the fun of it!!
For the initial finish, I think Bert has a point in letting the wood soak in all the oil it wants, instead of setting the ratio at some arbitrary number. After the initial oil soak, use a ratio that is high in wax like 4:1.