7 ! Part 1 of 3 Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,500 units (solar panels) in July and 5,500 units in August. Skipped Each unit requires 2 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 2,700 pounds of direct materials in inventory. Prepare the direct materials budget for July. eBook Hint MIAMI SOLAR Direct Materials Budget July 4,500 Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases