Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,800 units (solar panels) in July and 4,700 units in August. Each unit requires 2 pounds of direct materlals, which cost $5 per pound. The company's policy is to maintain direct materials nventory equal to 30% of the next month's direct materials requirement. As of June 30 , the company has 3,480 pounds of direct naterials in inventory. Prepare the direct materials budget for July