B C D E H Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000 units (solar panels) in July and 5,300 units in August. Units Produced July August 5,000 5,300 5 7 B 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 4,500 pounds of direct materials in inventory. Pounds per Cost per Materials June 30 unit pound requirement Inventory 3 $6 30% 4,500 9 10 Required: 1 Prepare the direct materials budget for July. 12 (Use cells A2 to J8 from the given information to complete this question. Negative amounts or amounts to be deducted should be input and 13 displayed as negative values.) 14 15 MIAMI SOLAR 16 Direct Materials Budget 17 July 18 Units to produce 19 Budgeted units sales for month 20 Materials needed for production (pounds) 21 Add: Desired ending materials inventory 22 Total materials required (pounds) 23 Less: Beginning materials inventory (pounds) 24 Materials to be purchased (pounds) 25 Materials cost per pound 26 27 Cost of direct materials purchases Graded Worksheet +