Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5.300 units (solar panels) in July and 5,300 units in August. Each unit requires 2 poundis of direct matenals, 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 2,120 pounds of direct materials in inventory. Prepare the direct materials budget for July