Use the following information for the Quick Study below. (Algo)

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Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,500 units (solar panels) in July and 4,700 units in August.

QS 20-9 (Algo) Manufacturing: Direct materials budget LO P1

Each unit requires 3 pounds of direct materials, which cost $6 per pound. The companys policy is to maintain direct materials inventory equal to 40% of the next months direct materials requirement. As of June 30, the company has 5,400 pounds of direct materials in inventory. Prepare the direct materials budget for July.