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 39,000 October 88,020 November 57,000 December 29,000 15,500 16, eee The selling price of the beach umbrellas is $15 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: sex in the month of sale 65% in the month following sale sx uncollectible Sales for June totaled $555,000. 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 30 September 38 92,7ee feet ? feet 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 paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $66,920. e. Gilden costs $0.80 per foot. One-half of a month's purchases of Gilden is paid for in the month of for in the following month. The accounts payable on July 1 for purchases of Gilden during June will 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 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarte 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in t Complete this question by entering your answers in the tabs below. Req1 Req 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 Regi Req 2 > 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. Req 1 Rha 2 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 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 Oct 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 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 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 quarte Complete this question by entering your answers in the tabs below. Reg 1 Req 2 Req3 Req 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 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 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 expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. July August September Quarter Total cash disbursements