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 33,000 October 75,000 November 45,000 December 23,00 9,5ee 10,000 The selling price of the beach umbrellas is $15 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 sale 5% uncollectible Sales for June totaled $375,000 c. The company maintains finished goods inventortes 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 a June 30 September 30 78,900 feet feet e Gilden costs $0.60 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 $39.390. Required: 1 Calculate the estimated tales, 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 Sales for June totaled $375,000 c. The company maintains finished goods inventores 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 78,900 feet 7 feet e. Gilden costs $0.50 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 $39.390. 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 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. Req1 Reg 2 Reg Req 4 and 5 Reg 6 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. (Round your unit cout of raw materials to 2 decimal places) July August September Quarter Total units of raw materials to be purchased Cost of raw materials to be purchased 65% in the month following sale sx uncollectible Sales for June totaled $375,000 c. The company maintains finished goods inventortes equal to 15% of the following month's sales This requirement will be met at the 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 or the beginning and end of the quarter will be end of June June 30 September 30 78,900 feet feet e Gilden costs $060 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 $39,390, 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. Re 1 Reg 2 Req3 RAG 4 and 5 Reg 5 Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. July August September Quartier Total cash disbursements