Miami solar manufactures solar panels for industrial use. the company budgets production of 5,000 units (solar panels) in july and 5,300 units in august. each unit requires 3 pounds of direct materials, which cost $6 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 4,500 pounds of direct materials in inventory, which complies with the policy. prepare a direct materials budget for july.