Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000 units (solar panels) in July and 5,100 units in August. ach unit requires 2 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials ventory equal to 40% of the next month's direct materials requirement. As of June 30 , the company has 4,000 pounds of direct laterials in inventory, which complies with the policy. Prepare a direct materials budget for July