Milo Company manufactures beach umbrellas. The company is preparing detalied 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): The selling price of the beach umbrellas is $11 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: 301inthemonthofsale651inthemonthfollowingnate51uncollectible Sales for June totaled $429,000. 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: 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 Gliden during June will be $51,990. 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 Giden, 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 imventory of Gilden on hand at the beginning and end of the quarter will be: Jane 10 Septenber 30 95, 000 teet 7 teet 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 $51,990 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, Septomber, and October. 4. Calculate the quantify of Giden (in feet) that needs to be purchased by month and in total, for the third quartec. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter, 6. Caiculate the expected cash disbursements for raw material (Gilden) purchoses, by month and in total, for the third quarter. Complete this question by entering your answers in the tabs below. Calculate the estimated sales, by month and in total, for the third quarter. 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 pai for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $51,990. 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. Calculate the expected cash collections, by month and in total, for the third quarter. 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 hune. d. Each beach umbrella requires 4 feet of Giden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gildon be equal to 50% of the following monti's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: June 30 Geptember 10 $5.000 feet 7 teet 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 purcheses or Gilden during June will be $51,990. Required: 1. Calculate the estimated sales, by month and in fotal, 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 Octobet. 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 (Gllden) purchases by month and in total, for the third quarter 6. Calculate the expected cash disbursements for raw muterial (Giden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers in the tabs below. Calculate the estimated quantity of beach umbrellas that need to be preduced in July, August, September, and October. e. Gilden costs $0.60 per foot. One-haif of a month's purchases of Gilden is paid for in the month of purchase; the remaindes is pain for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $51,990. 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 quartec. 3. Calculate the estimated quantify of beach imbrellas that need to be produced in July, August, September, and October, 4. Calculate the quantity of Giden (in feet) thet needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw moterial (Giden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Giden) purchases, by month and in total, for the third quarter. Complete this question by entering vour answers in the tabs below. 4. Calculate the quantiy of Cilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (caiden) purchases by month and in total, for the third quarter. 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 paic for in the following month. The sccounts payable on July 1 for purchases of Gilden during June will be $51,990. Required: 1. Colculate 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 groduced 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 (Gildon) purchases by month and in totat, for the third quarter. 6. Calculate the expected cash disbursements for raw matenal (Gilden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers in the tabs below. Calculate the expected cash oisbursements for raw material (Giden) purchases, by month and in total, for the third quarter