Milo Company manufactures beach umbrellas. The company is preparing detalled budgets for the Bird euarter and has assembied 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 $12 per unit b. All sales are on account. Based on past experience, sales are collectifd in the following pottiern: Saies for June totaied $336,000. c. The compsny maintains finished goods inventorles equal to 15% of the following month's sales. This tequirement will be met at the end of June. d. Each beach umbreila requires 4 feet of Giden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Giden be equal to 50% of the following month's production needs. The inventory of G ilden on hand at the beginning and end of the querter will be: 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 Giden during June will be 556.120 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 umbrelias 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 quartec. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter