Milo Company manufactures beach umbrellas. The company is 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 units July August September 35.569 October 81,000 November se, eee December 25,500 12,000 12,500 The selling price of the beach umbrellas is $14 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 65% in the month following sale 5X uncollectible Sales for June totaled $420,000. 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 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 Gilden on hand at the beginning and end of the quarter will be: June 30 September 30 84,650 feet ? feet e Gilden costs $0.60 per foot One-half of a month's purchases of Gilden Is pald for in the month of purchase, the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $43,890. Reg 1 Reg 2 Reg Reg 4 and 5 Req Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October July August September October Required production in units by month an in total, for the third op Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Real yond 5 Reg 6 Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. (Round your Unit cost of ran materials to 2 decimal places.) July August September Quarter Total units of raw materials to be purchased Cost of raw materials to be purchased Reg 1 Reg 2 Req 3 Req 4 and 5 Reg 6 Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter July August September Quarter Total cash disbursements Sevenbergen Corporation makes one product and has provided the following Information to help prepare the master budget for the next four months of operations: $ 92 Budgeted selling price per unit Budgeted unit sales (all on credit): July August September October 9, eee 11,300 10,400 10,800 Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate Variable selling and administrative expense Fixed selling and administrative expense 4 pounds $ 1.00 per pound 2.8 direct labor-hours $ 22.00 per direct labor-hour $ 1.50 per unit sold $ 70,000 per month Credit sales are collected: 40% In the month of the sale 60% in the following month Raw materials purchases are pald: 30% in the month of purchase 70% In the following month The ending finished goods Inventory should equal 20% of the following month's sales. The ending raw materials inventory should equal 30% of the following month's raw materials production needs. The estimated selling and administrative expense for August is closest to: Help Save et Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.15 direct labor-hours. The direct labor rate is $7.00 per direct labor-hour. The production budget calls for producing 6.500 units In April and 6.200 units in May. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two month Multiple Choice 314.000.00 $15.335 00 513.825.00 $13.510.00 The LaPann Corporation has obtained the following sales forecast data: Cash sales credit sales July $ se,000 $ 240,000 August $ 70,000 $ 220,000 September $ 50,00 $ 180,000 October $ 60,000 $ 200,000 The regular pattern of collection of credit sales is 20% in the month of sale, 70% In the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted cash receipts for October would be