1 Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: 0 boints a. The Marketing Department has estimated sales as follows for the remainder of the year in units July 31.000 October August 72,000 November September 41,000 December 21,000 7,500 8.000 The selling price of the beach umbrellas is $11 per unit. b. All sales are on account Based on past experience, sales are collected in the following pattern: 300 in the month of sale 656 in the month following sale 51 uncollectible Sales for June totaled $231.000. C. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the following month's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: Return to 1 June 30 September 30 74.300 feet 7 feet 40 points e Gilden costs $0.60 per foot. One-half of a month's purchases of Gilden is paid for in the month of purchase, the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Giden during Jurke will be $35,790, Required: 1. Calculate the estimated sales, by month and in total, for the third quarter, 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July August September, and October 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter, 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg2 Req3 Req 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter July August September Quarter Budgeted sales $ 341,000 $ 792.000 451.000 1 m Saved Optional Review Exam 3 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. RE 1 1. Calculate the estimated sales, by month and in total, for the third quarter, 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Gliden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. 40 points Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Rha 2 Reg 1 Reg 4 and 5 Reg 6 Req3 Calculate the expected cash collections, by month and in total, for the third quarter. July August September Quarter Total cash collections 17,150 2.454.100 650,100 4,277 350 3. Calculate the estimated quantity of beach Umbrellas 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. 40 points Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4 and 5 Rego Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October July August September October Required production in units 274,300 67,350 38,000 18,975 2. Calculate the expected cash collections, by month and in total, TOP 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Gliden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gliden) purchases, by month and in total, for the third quarter. 40 points Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg1 Reg 2 Req3 Reqs and s Reg Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. (Round your Unit cost of raw materials to 2 decimal places.) July August September Quarter Total units of raw materials to be purchased 1.231,000 3 345.400 189,950 1,556,550 Cost of raw materials to be purchased $ 694 560 126,420 68,370 $ 890,955 1 CY 1. Calculate the estimated sales, by month and in total, for the third quarter 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August September, and October 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. 40 points Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. prego Req Req2 Reg 3 Req 4 and 5 Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. July August September Quarter Total cash disbursements 383.070 410.490 97,395 $ 890,955