Help Save & Exit Submit Check my work Problem 8-30 Integration of the Sales, Production, and Direct Materials Budgets (LO8-2, LO8-3, LO8-4) 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) July 41,000 October August 92,000 November September 61,000 December 31,000 17,500 18.000 The selling price of the beach umbrellas is 513 per unit b. All sales are on account. Based on past experience, sales are collected in the following pattern 10% in the month of sale 65% in the month following sale Suncollectible Cabina 3 Ponu Check my work 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $533,000 The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the 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 Giden 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 end of June June 30 September 30 97,300 feet feet e Gilden costs $060 per foot One-half of a months 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 Guden during june will be $53790 Required: 1. Calculate the estimated soles by month and in fotol for the third quarter Check my work Required: Calculate the estimated sales, by month and in total, for the third quarter. 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 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 - Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quartet Complete this question by entering your answers in the tabs below. Rei Red 2 Reg 3 Reg 4 and 5 Rego Calculate the estimated sales, by month and in total, for the third quarter. July August September Quarter Budgeted sales Req2 > 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 1 Red 2 Reg) Reg 4 and 5 Reg 6 Calculate the expected cash collections, by month and in total, for the third quarter. Total cash collections July 5 1039 350 August September 1901 250 1808 300 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 1 Reg 2 Req? Req 4 and 5 kao Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter, Total cash disbursements July August Suptember Quarter $ 135,390 1679101 s 124 5567 5 127 856