2 ! Part 1 of 3 Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,300 units (solar panels) in July and 5,800 units in August. 10 points Each unit requires 3 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. As of June 30, the company has 4,770 pounds of direct materials in inventory. Prepare the direct materials budget for July. eBook Hint MIAMI SOLAR Direct Materials Budget July 5,300 Units to produce Print Materials needed for production (pounds) References Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases