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 . The Marketing Department has estimated soles as follows for the remainder of the year (in units): July August September 37,500 October 35.000 november 54,000 December 27,500 34.000 14,500 The selling price of the beach umbrellas is $12 pes unit: b. All sales are on account. Based on post experience, sales are collected in the following pattern in the sonth of sale 65% in the month following sale uncollectible Sales for June totaled $408.000 Sales for June totaled $408,000 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 Surve Septeben 89,250 feet fet . Gilden costs 50 60 per toot. One-half of a month's purchases of Giden 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 $47490 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 Septembec and October 4 Calculate the quantity of Gliden in een 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 Calculate the expected cash disbursements for uw material (Gilden) purchases, by month and in total for the third quarter nework 1 Saved He 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. Reg 1 Reg 2 Reg 3 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 August September October Required production in units ( Req 2 Req 4 and 5 > 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. Reg1 Req2 Reg 3 Reg 4 and 5 Rego Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. August September July Quarter Total cash disbursements