6 Problem 8-30 Integration of the Sales, Production, and Direct Materials Budgets (LOB-2 LoB-3, LO8-4) 335 ctures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation points a. The Marketing Department has estimated sales as follows for the remainder of the year (in units): July 31,000 October 21,e9 August 72,88e November 7,580 Septesber41,e00 December 8,880 The selling price of the beach umbrellas is per unit etrences b. All sales are on account. Based on past experience. sales are collected in the following patmern 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $231,000. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement wl be met at the C. 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 folwng month's production needs. The inventory or Gilden on hand at the beginning and end of the quarter will be June 30 Septenber 30 74,300 feet feet 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 Gilden during June will be $35,790 Required: 1. Celculate the estimated sales, by month and in total for the third quarter 2 Calculate the expected cash collections, by morth and in total, for the third quarter 3. Calculste the estimated quantity of beach umbrellas that need to be produced in July, August September, and October 4 Calcuate the quantity of Gilden in feet) that needs to be purchased by morth and in total, for the third quarter 5. Calculate the cost of the raw material (Gilden) purchases by monith and in total, for the third quarter 6. Calculate the expected cash disbursements for raw material |Gildenl purchases, by month and in total, for the third quarter Complete this question by eatering your answers in the tabs below. Req 2 Rg Req 1