Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar paneis) in July and 5,000 units in August. Each unit requires 4 pounds of direct materials, which cost $7 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 3,360 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July