accounting 20 question 2

Saved Help Save & Exit Check 2 Part 1 of 3 Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,200 units (solar panels) in July and 5,600 units in August. 7 ints QS 20-13 Manufacturing: Direct materials budget LO P1 eBook Hint Each unit requires 4 pounds of direct materials, which cost $6 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 4,160 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. Print ferences MIAMI SOLAR 5,200 Direct Materials Budget For Month Ended July 31 Budget production (units) Materials requirements per unit Materials needed for production (lbs.) Add: Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Less: Beginning inventory (lbs.) ho purchacer llhe MIAMI SOLAR Direct Materials Budget For Month Ended July 31 Budget production (units) 5.200 Materials requirements per unit Materials needed for production (lbs.) Add: Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Less: Beginning inventory (lbs.) Materials to be purchased (lbs.) Materials price per pound Budgeted cost of direct materials purchases