2 Required information Use the following Information for the Quick Study below. Miomi Solar manufactures solar panels for industrial use. The company budgets production of 4 300 units solar panels in July and 4.500 units in August Pa 103 3.5 points QS 20-13 Manufacturing: Direct materials budget LO P1 Spoed Each unit requires 4 pounds of direct materials, which cost $6 per pound The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. As of June 30, the company has 3.440 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July MAMI SOLAR Direct Materials Budget For Month Ended July 1 Budget production (unit) 4.500 ce Materials needed for productions Total materials requirements (bis) Materials to be purchased (6) Budgeted cost of direct materiale purchases