Problem 8-30 Integration of the Sales, Production, and Direct Materials Budgets (L08-2, LO8-3, LO8-4) Mio Company manufactures beach umbrellis. The company in 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) July 02.000 detober 30,000 August 4,000 ter 0,5 per 63.000 19.00 The selling price of the beach umbrellas is $15 per unit . All sales are on account. Based on past experience, sales are collected in the following pattern 30 the month of sale * the month tolloving wala 55 collectie Sales for June totaled 5645.000 c. The company maintains finished goods inventores equal to 15% of the following months sales. This requirement will be met at the end of June d. Each bench umbrelle 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 months production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be Drou 18 NA 2 can beach umorena requires rector Gen, a man that is sometimes naru to acquire inererore, the company requires that the ending inventory 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 June 30 September 30 99,600 feet 7 tent Sed e Gliden 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 1for purchases of Gilden during June will be $74,120. Book 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 quartet 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 (Gliden) purchases, by month and in total, for the third quarter. eference Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4 and 5 Reg 6 Calculate the estimated sales, by month and in total, for the third quarter July August September Quarter Budgeted sales Req2) 7 feet September 30 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 remainde for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $74,120. 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 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 quar Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req3 Req 4 and 5 Req 6 Calculate the expected cash collections, by month and in total, for the third quarter. July August September Quarter Total cash collections e. Gilden costs $0.80 per foot. One-half of a month's purchases of Gliden 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 $74,120. od 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. cos Req Reg 2 Rec3 Reg and Reg 6 Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October July August September October Required production in units e Gliden 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 $74120 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 Reg2 Reg. July Quarter Calculate the expected cash disbursements for raw material (Giden) purchases, by month and in total, for the third quarter. August September Totalcar dabursements