2 Use the following information for the Quick Study below Part 1 of3 Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,800 units (solar panels) in July and 5,300 units in August 0.66 oints Qs 22-13 Manufacturing: Direct materials budget LO P1 ebookEach unit requires 2 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. As of June 30, the company has 4640 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July MIAMI SOLAR July 31