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): OOK July Aurust September 39,500 119,000 58.000 October November December 29,500 15,000 16,500 erences The selling price of the beach umbrellas is $10 per unit b. All sales are on account Based on post experience, sales are collected in the following pattern 30% in the month of sale 65% in the month following sele collectie Sales for June totaled $280,000 c. The company maintains finished goods inventores equal to 15% of the following month's sites. This requirement will be met at the end of June d. Each beach umbrella requires 4 feet of Gilden, material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the following months production needs The Inventory of Giden on hand at the beginning and end of the quarter will be beginning and end of the quarter will be June 30 September 30 93,50 feet toot e. Gilden costs $0.80 per foot. One half of a month's purchases of Gilden is paid for in the month of purchase, the remainder is pald for in the following month, the accounts payable on July 1 for purchases of Gilden during June will be $68,120. Required: 1. Calculate the estimated sales, by month and in total, for the third Quintet, 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 Gliden in feets that needs to be purchased by month and in total for the third quarter 5. Calculate the cost of the raw material (Gilder) purchases by month and in total, for the third quarter 6. Calculate the expected canh dnbursements for raw material (Gilden) purchases by month and in total, for the third quartet Complete this question by entering your answers in the tabs below. Rat le 2 Ro Read and Reg. Calculate the estimated sales by month and in total, for the third te Aug Moss