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 30,500 August 71,000 September 40,000 October November December 20,500 7,000 7,500 The selling price of the beach umbrellas is $10 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: 301 in the month of sale 658 in the month following sale 58 uncollectible Sales for June totaled $200,000. 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: 73,150 feet June 30 Next > 19 of 21 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, Sep 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the th 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 to Complete this question by entering your answers in the tabs below. Req1 Req 2 Rq3 Req 4 and 5 Req 6 Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, July August September October Required production in units The accounts payable on July 1 for purchases of Gilden during June will be $3 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 Septembe 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third qu 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, fom Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Red 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 quart 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. (Round 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 L. u.MEMULUI WHITE HOMME for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $34,89 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, an 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarte 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 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Req 4 and 5 Reg 6 Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third July August September Quarter Total cash disbursements