Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has asser

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 $$15$ per unit.

b$.$ All sales are on account $($i$.$e$.,$ on credit$)$ and sales for June totaled $$465,000.$ Based on past experience, sales are collected

following pattern:

c$.$ The company maintains finished goods inventories equal to $15\%$ of the following month's sales. This requirement will be ms

end of June.

d$.$ Each beach umbrella requires $4$ feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requir

the ending inventory of Gilden be equal to $50\%$ of the following month's production needs. The inventory of Gilden on han

beginning and end of the quarter will be:

September $30,$ feet

e$.$ Gilden costs $$0\mathrm{.}60$ per foot. One$-$half of a month's purchases of Gilden is paid for in the month of purchase; the remainder

for in the following month. The accounts payable on July $1$ for purchases of Gilden during June will be $$44,790.($I$.$e$.,$ this is

amount of June Gliden purchases that have not been paid for at the end of June.$)$

Required:

Calculate the estimated sales, by month and in total, for the third quarter.

Calculate the expected cash collections, by month and in total, for the third quarter.

Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.

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.

Calculate the expected cash disbursements for raw material $($Gilden$)$ purchases, by month and in total, for the third quarti

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$

Req $3$

Req $4$ and $5$

Req $6$

Calculate the expected cash collections, by month and in total, for the third quarter.

Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.

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 raw

materials to $2$ decimal places.$)$

Calculate the expected cash disbursements for raw material $($Gilden$)$ purchases, by month and in total, for the third quarter.