75 1 10 Milo Company manufactures beach umbrellas. The company is preparing budgets for the third...

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75 1 10 Milo Company manufactures beach umbrellas. The company is preparing budgets for the third quarter and assembled the following information The Marketing Department estimated unit sales as follows for the remainder of the year: July August 38,000 October 85,000 November 14,500 September 55,000 December 15,000 The selling price of the beach umbrellas is $13 per unit Al 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 5 uncollectible Sales for June totaled $455.000 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 Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires ending inventory of Gilden 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 38 September 30 feet 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 $48.390 Required t 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 Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October 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 (Gilder) 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 75 1 10 Milo Company manufactures beach umbrellas. The company is preparing budgets for the third quarter and assembled the following information The Marketing Department estimated unit sales as follows for the remainder of the year: July August 38,000 October 85,000 November 14,500 September 55,000 December 15,000 The selling price of the beach umbrellas is $13 per unit Al 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 5 uncollectible Sales for June totaled $455.000 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 Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires ending inventory of Gilden 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 38 September 30 feet 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 $48.390 Required t 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 Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October 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 (Gilder) 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