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 October August 73.000 November September 10,000 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 651 in the month following sale St uncollectable 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 all 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 73,150 feet fees 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 $34,890 Required: 1. Calculate the estimated sales, by month and in total for the third quartet hihinin 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 73,150 feet 7 Peet 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 wil be $34,890 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 3 Reqri Reg 2 Reg 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter, July August September Quarter Budgeted sales Req 2 > 3 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 Gliden on hand at the beginning and end of the quarter will be June 30 73,150 feet 7 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 $34 890, 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 feet) that needs to be purchased by month and in total, for the third quarter, 5. Calculate the cost of the raw material (Gilder) purchases by month and in total, for the third quarter 6. Calculate the expected cash disbursements for raw material (Gilder) purchases, ty month and in total, for the third quarter Complete this question by entering your answers in the tabs below. Reg 6 Reg1 Re2 Reg 3 Req 4 and 5 Calculate the expected cash collections, by month and in total, for the third quarter July August September Quarter Total cash collections 3 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 73,150 feet + teet e Gilden costs $0.60 per foot One halt ot 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 Giiden during June will be $34 890. 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 Req6 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 3 end of June d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to cure Therefore, the company requwes 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 73.250 feet 7 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 s pald for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $34,890 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 quartet 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. Red 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. Calculato 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 materals to be purchased Cost of raw materials to be purchased 3 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 Gaden 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 7a, 150 feet feet e. Gilden costs $0.60 per foot One-half of a month's purchases of Gilden is paid for in the morth 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 $34,890. 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. R96 Reg 1 Reg 2 Reg 3 Req 4 and 5 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 ( Req 4 and 5