Milo Compary manufactures beach umbrellas. The compary is preparingy detalled budgets for the third quarter and has assembled lise folowing intormation to assat in the budget preparation: a. The Marhethg Department has estimated sales as folows for the remainder of the year (in unitsk The seiling price of the beach umbrellas is \$it per unit. b. Al eviles are on account. Based on past experience, sales are collected in the following pattern: 3os in the manth of vale 65k in the minth following wale is uscolzectible Sules for june totaled $297,000 c. The company maintains finthed goods inventories equal to 15%5 of the following month's sales. This reculiement will be met at the d. Each beach umbrella requires 4 feet of Gldden, a matetal that is sometimes hard to acquice. Therefore, the compary requires that erit of June. the ending imveritory of Gilden be equal to 503 of the following monti's production needs. The linventory of cilden on hatd at the begining and end of the quarter wil be: 3ineseSepteatere10 0. Rilderi costs $080 per foot One haf of a month's puichases of Gulden is paid for in the month of purchase: the remainder is paid for in the folowing month. The accounts navable on Julv 1 for burchases of Gilden durino June wil be 554920. e. Gilden costs $0,80 per foot, One hall of a month's purchases of Gllden is paid for in the month of purchase; the remainder is pald for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $54,920. Required: 1. Caiculate 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. Colculate the expected cash disbursements for raw material (Galden) purchases, by month and in total, for the third quarter. Complete this question by entering your answers in the talis below. Calculate the expected cash disbirsements far raw material (Gilden) purchases, by month and in total, for the third quartec. 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 Cileulate the estimoted cuantity of beach umbreltas that need to be produced in July, August, September, and October. Gakulate live rapected ceih culketiores, br month and in total, for the third quattor calcuation, the estimated tales, by month ard in total, for the thind quarter