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 40,500 91,000 60,000 October November December 30,500 17,000 17,500 The selling price of the beach umbrellas is $12 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 5% uncollectible Sales for June totaled $480,000 The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the and offrin help Save 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 beginning and end of the quarter will be: June 30 September 30 96,150 feet ? feet e. Gilden costs $0.60 per foot One-half of a month's purchases of cyden 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 $52,890. Required: 1. 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 October 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 third quarter Complete this question by entering your answers in the tabs below. Required: 1. 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 October 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 third quarter. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 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 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. 5. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October 9. 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. 5. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quart Complete this question by entering your answers in the tabs below. Reg 1 Req 2 Reg 3 Req 4 and 5 Reg 6 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 & Reg2 Req 4 and 5 > Required: 1. 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 Octo 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 third Complete this question by entering your answers in the tabs below. Req-1 KLUKKE Req3 Reg 3 Req 4 and 5 Reg 6 Calculate the expected cash collections, by month and in total, for the third quarter. July August September Quarter Total cash collections 253A%252F%252Fnewconnect mhe- Saved Required: 1. 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 a 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 third Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req3 Req 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter. July August September Quarter Budgeted sales Req 2 >
