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Each unit requires 2 pounds of direct materials, which cost $5 per pound. The company's...

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Accounting

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Each unit requires 2 pounds of direct materials, which cost $5 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 2,240 pounds of direct. materials in inventory. Prepare the direct materials budget for July

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