Problem 8-30 Integration of the Sales, Production, and Direct Materials Budgets (L08-2, LO8-3, LO8-4) 3.32 Mio 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 points ( 3 ) a. The Marketing Department has estimated sales as follows for the remainder of the year in units) July August September 31,500 73. 42,10 October November December 21,500 5,000 8,500 Poleroncos The selling price of the beach umbrellas is $12 per unit 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 $264.000. c. The company maintains finished goods inventores equal to 15 ore Following months Sales. This requirement w be met at the end of June d. Each beach umbrella requires 4 feet of Gilden, o material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the foowing months production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be beginning and end of the quarter will be: June September Je 75,450 feet ? feet 3.32 points 8 01:18:50 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 $48,920. Look References 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. Reg 2 Req3 Reg 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter. July Quarter August September Pennan