Answer the following

Milo Company manufactures beach umbrellas. The company is preparing detailed budgets forthe third quarter and has assembled the following information to assist in the budget preparation: a. The Marketing Department has estimated sales as follows for the remainder of the year [in units]: July 39, 560 October 29, 5:30 august 39,668 November 15,1368 September 58,0930 December 16, 5:00 The selling price ofthe beach umbrellas is $10 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 6596 in the month Following sale 596 uncollectible [ Sales for June totaled $380,000. c. The company maintains nished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end ofJune. 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 lGilden on hand at the beginning and end ofthe quarter will be: June 3% 93,359 Feet September 30 .3 -Feet e. Gilden costs $0.80 perfoot. Onehalf 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 ofGilden during June will be $68,120. 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 ofbeach 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, forthe third quarter. 5. Calculate the cost ofthe raw material {Gilden} purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for ram.r material {Gildeni purchases, by month and in total, for the third quarter