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 estimated sales, 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 tota Complete this question by entering your answers in the tabs below. Calculate the expected cash collections, by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) P Complete this question by entering your answers in the tabs below. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, Complete this question by entering your answers in the tabs below. 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quart 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. Complete this question by entering your answers in the tabs below. Sales for June totaled $300,000. c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June. d. Each beach umbrella requires 4 feet of Giden, a material that is sometimes hard to acquire. Therefore, 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: Juse 30 Septenber 30 teet 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 ifor purchases of Gilden during June will be $76.000. Required: 1. Calculate the estimated sales, by month and in total, for the third quartet. 2. Calculate the expected cash collections, by month ond 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. Colculate 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) purchoses, 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. Problem 8-30 (Static) Integration of the Sales, Production, and Direct Materials Budgets [LO8-2, LO8-3, [O8-4] 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 seling price of the beach umbrellas is $12 per unit. b. Ali sales are on account Based on past experience, sales are collected in the following pattern: 308 is tbe nonch of gale 65 in the month following wale 5) uncolloctible 30 is tben monch of gale 65 in the ponth following wale 5) uncollectible Sales for June totaled $300,000. C. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June. d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquite. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the following month's production needs. The imventory of Gidden on hand at the beginning and end of the quarter will be: dune30soptember1672,000fent