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Required information

Miami Solar manufactures solar panels for industrial use. The company budgets production of $5,700$ units $($solar panels$)$ in July and $5,100$ units in August.

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 $30\%$ of the next month's direct materials requirement. As of June $30,$ the company has $6,840$ pounds of direct materials in inventory. Prepare the direct materials budget for July.

$\backslash$table$[[$MIAMI SOLAR$],[,$Direct Materials Budget$],[$Units to produce,$5,700],[,],[$Materials needed for production $($pounds$),],[,],[$Total materials required $($pounds$),],[,],[$Materials to purchase $($pounds$),],[,],[$Cost of direct materials purchases,$]]$