Mio Compary 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 tollows for the remainder of the year (in units): The selling price of the beach umbrellas is $14 per unit. b. All saies are on account. Based on past experience, sales are colected in the following pattern: Sales for June totaled $588,000 c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be mef at the end of June. d. Each beach umbrelia requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventocy 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 $0.80 per foot One-half of a month's purchases of Gilden is pald for in the month of purchase, the remainder is paid for in the following month. The accoants payabte on July 1 for purchases of Gilden during June will be $72,920. for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $72,920. 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 Giden (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 estimated sales, by month and in total, for the third quarter 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 Gilden during June will be $72,920 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 feel) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Giden) 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 colfections, by month and in total, for the third quarter. 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 estimated quantity of beach umbrelias that need to be produced in July, August, September, and Gctober. 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 quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. Caiculate 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.) 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 disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter