Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,400 units (solar paneis) in July and 4,500 units in August. Each unit requires 3 pounds of direct materials, which cost $7 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 3,960 pounds of disect. materials in inventory, which complies with the policy. Prepare a direct materials budget for July. Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,400 units (solar paneis) in July and 4,500 units in August. Each unit requires 3 pounds of direct materials, which cost $7 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 3,960 pounds of disect. materials in inventory, which complies with the policy. Prepare a direct materials budget for July