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Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third 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 August September 34.500 70.000 48.000 October November December 24,500 11.000 11.500 The selling price of the beach umbrellas is $12 per unit b. All sales are on account Based on past experience sales are collected in the following patter 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $336,000 c. The company maintains finished goods inventories equal to 15% of the following month's sales. This re d. Each beach umbrella requires 4 feet of Gilden a material that is sometimes hard to acquire. Therefore inventory of Gilden be equal to 50% of the following month's production needs. The inventory of Gilden quarter will be June 30 September 30 82.350 feet fee e. Gilden costs $0.80 per foot One-half of a month s purchases of Gilden is paid for in the month of purcha following month. The accounts payable on July 1 for purchases of Gilden during June will be 556 120 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 of beach umbrellas that need to be produced in July August September 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total for the third qua 5. Calculate the cost of the raw material (Gilden purchases by month and in fotal, for the third quarter 6. Calculate the expected cash disbursements for raw matenal (Gilden) purchases by month and in total for Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 Req 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter. Budgeted sales August 048.000 S 414.000 September s 570,000 Quarter $ 1.038.000 Reg 2 >