Required information

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

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

July and $5,200$ units in August.

QS $20-9($Algo$)$ Manufacturing: Direct materials budget LO P$1$

Each unit requires $2$ pounds of direct materials, which cost $$7$ per pound. The company's policy is to maintain direct materials

inventory equal to $30\%$ of the next month's direct materials requirement. As of June $30,$ the company has $2,820$ pounds of direct

materials in inventory. Prepare the direct materials budget for July.