Milo Company manufactures beach umbrellas. The company is preparing detalled 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 32.000 74.000 43. October November December 22.ee 8,5ee 9.cee The selling price of the beach umbrellas is $5 per unit b. All sales are on account. Based on past experience, sales are collected in the following pattem 3ex in the month of Sale 65. In the sont Follow Sale Suncollectible Sales Tor June totaled $299,000 c. The company maintains finished goods inventores equal to 1525 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 Invertory of Gilden be equal to 50% of the following months production needs. The inventory of Gilden on hand a the beginning and end of the quarter will be June 3e September 30 76,6e te free e Gilden costs $0.80 per foot One-half of a month's purchases of Gilden is paid for the month of purchase the remainder is paid for in the following month. The accounts payable on July for purchases of Gliden dunng June will be $50,120 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 Gilder purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Giden purchases, by morith and in total, for the third quarter Complete this question by entering your answers in the tabs below. R2 Reg 3 Re 4 and 5 Red 6 Calculate the priced cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter. August September Quarter Toucash disbursements C Reg Land 5