International Studer Play Store F? Thes a Ful Milo Company manufactures beach umbrellas. The company is now preparing detailed budgets for the 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 unts) July August September 65,000 December 25,000 45.000 October 85,000 November 25,000 35,000 The selling price of the beach umbrellas is $10 per unit Sales in June were 40.000 units All sales are on account On the basis of past experience, sales are collected in the following pattern b 40% in the month of sale 55% in the month following sale 536 5% uncollectible c. The company maintains t nished goods inventories equal to 15% of the following months sa es This requirement will be met at the end of June. Each beach umbrella requires 4 metres ot Gilden, a material that is sometimes hard to get Therefore the company requires that the inventory of Gilden on hand at the end of each month beequal to 50% of d month's production needs The inventory of Gilden on hand at the beginning and end of e quarter will be as follows