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): The selling price of the beach umbrellas is $10 per unit b. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the wonth of sale 65\% in the month following sale 5\% uncollectible Sales for June totaled $440,000 C. 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 beging and end of the quarter will be June 30 Septenber 30 100,750 feet e. Giden costs $040 per foot One-half of a month's purchases of Gilden is paid 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 $37,660 Required: 1. Calculate the estimated sales, by month and in total, for the third quarter 4 Caccuate the expected cash collections, by month and in total, for the third quarter. 4 Calculate the equantity of Gilden of beach umbrellas that need to be produced in July, August, September, and October. 5. Calculate the cost of the raw material (Gilden) needs to be purchased by month and in total, for the third quarter. 6 Calculate the expected cash disbursements for raw material (Gith and in total, for the third quarter. Calculate the estimated sales, by month and in total, for the third quater. Calculate the expected cash collecions, by month and in total, for the third quarter. Calculate the erimated quantiry of beach umbrellas that need to be produced in July. August, September, and October. A. Calculate the quantily of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 6 Calculate lhe cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6 Calculate the expected cash disbursments for raw material (Gilden) purchases, by month and in total, for the third quarter. (A) Anwer is complete but not entirely correct. Complete lils question by entering your answers in the tabs below. 4. Calculate the quantity of Gllden (In feet) that noeds to be purchased by month and in total, for the third ayarter. equired: 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, and 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the thi Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Calculate the expected cash disbursements for raw material (Gildom)