Please take a look at section 3-a in the Quarter column where you will see two RED boxes that are wrong.

Milo Company 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 follows for the remainder of the year (in units): The selling price of the beach umbrellas is $14 per unit. July August 28,500 87,000 November 15,000 September 56,000 December 15,500 38,500 October b.All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale Sales for June totaled $504,000. C. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirekl i at ffte end o.Jurne 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% ofthe following month's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: June 30 91,550 feet 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 $49,290