Mia 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:

The Marketing Department has estimated sales as follows for the remainder of the year $($in units$)$:

July $44,000$ October $34,000$

August $84,000$ November $24,000$

September $64,000$ December $24,000$

The selling price of the beach umbrellas is $$12$ per unit. Sales in June were $39,000$ units.

All sales are on account. On the basis of past experience, sales are collected in the following pattern:

$30\%$ in the month of sale

$65\%$ in the month following sale

$5\%$ uncollectible

The company maintains finished goods inventories equal to $15\%$ of the following month$$s sales. This requirement will be met at the end of June.

Each beach umbrella requires $4$ metres of 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 be equal to $50\%$ of the following month$$s production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be as follows:

June $30100,000$ metres

September $30?$ metres

Gilden costs $$0\mathrm{.}80$ per metre. One$-$half of a month$$s purchases of Gilden are paid for in the month of purchase; the remainder are paid for in the following month. The accounts payable on July $1$ for purchases of Gilden during June will be $$90,000.$