t1 of 3 Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,300 units (solar panels) in July and 5,400 units in August. 5 QS 20-9 (Algo) Manufacturing: Direct materials budget LO P1 nts eBook Hint Print References Each unit requires 3 pounds of direct materials, which cost $5 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 2,580 pounds of direct materials in inventory. Prepare the direct materials budget for July. MIAMI SOLAR Direct Materials Budget July Units to produce 4,300 Materials needed for production (pounds) Total materials required (pounds) Materials to be purchased (pounds) Cost of direct materials purchases Part 1 of 3 6.25 points Book QS 20-9 (Algo) Manufacturing: Direct materials budget LO Each unit requires 3 pounds of direct materials, which cost $5 per pound. Th inventory equal to 20% of the next month's direct materials requirement. As materials in inventory. Prepare the direct materials budget for July MIAMI SOLAR H Direct Materials Budget July References Units to produce 4.300 Budgeted units sales for month Materials cost per pound Materials required per unit (pounds) Materials to be purchased Mc Graw Hill Q D 0 3 #3 62 A W S