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 3 a The Marketing Department has estimated sales as follows for the remainder of the year (in units July 41,000 October 31,000 August 92,000 November 17.500 September 61,000 December 18,000 The selling price of the beach umbrellas is $13 per unit b. All sales are on account. Based on past experience, sales are collected in the following pattern; 304 in the north of sale 65 in the month following sale 5 uncollectible Sales for June totaled $533.000 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 Grenland at the beginning and end of the quarter will be: Sales for June totaled $533,000 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 beginning and end of the quarter will be June je September 30 97,300 feet 1 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 $53.790 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. 5 100wing month. The accounts payable on July 1 for purchases of Gilden during June will be $53.790 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 fin feen 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 quartet Complete this question by entering your answers in the tabs below. Reg! Rea 2 Reg 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 5 937 3005 3742503 409,850 52.311,400 Regt R33 RE Next > 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. BOOK Complete this question by entering your answers in the tabs below. Reg! Reg 2 Req3 Reg 4 and 5 Reg 6 Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October July 48,650 August September 87 350 56.500 October 192.500 Required production in units Reg2 Read > 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 (Gliden purchases, by month and in total, for the third quarter Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Reg 3 Reg 4 and 5 Reg 6 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.) July August September Quarter Total units of raw materials to be purchased Cost of raw materials to be purchased Rega Required: 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 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 quarter Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Reg 4 and 5 Req 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