ited Getting Started io Company manufactures beach umbrelas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: .The Marketing Department has estimated sales as follows for the remainder of the year (in unts): The selling price of the beach umbrellas is $10 per unit July August 36,500 October 26,500 83,000 November 13,000 September 52,000 December 13,500 b.All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $320,000. c.The company maintains finished goods inventories equal to 1S% 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 Glden be equal to 50% of the folowing months production needs. The inventory of Gilden on hand at the beginning and end of the quarter ill be 86,950 feet June 30 September 30 ? feet e Giden costs $0.80 per foot One-half of a month's purchases of Giden is paid for in the month of purchase, the remainder is paid for in the following month. The accounts payabie on July 1 for purchases of Giden during June wi be 560.920 Search the web and Windows