Iguana, Incorporated, manufactures bamboo picture frames that sell for $$25$ each. Each frame requires $4$ linear feet of bamboo, which costs $$2\mathrm{.}50$ per foot. Each frame takes approximately $30$ minutes to build, and the labor rate averages $$14$ per hour. Iguana has the following inventory policies: Ending finished goods inventory should be $40$ percent of next month's sales. Ending direct materials inventory should be $30$ percent of next month's production.Expected unit sales $($frames$)$ for the upcoming months follow:MarchMay JuneJulyAugust$370490590565615$Variable manufacturing overhead is incurred at a rate of $$0\mathrm{.}40$ per unit produced.Annual fixed manufacturing overhead is estimated to be $$7,200($$$600$ per month$)$ for expected production of $4,500$ units for the year. Selling and administrative expenses are estimated at $$650$ per month plus $$0\mathrm{.}50$ per unit sold.Iguana, Incorporated, had $$11,200$ cash on hand on April $1.$ Of its sales, $80$ percent is in cash. Of the credit sales, $50$ percent is collected during the month of the sale, and $50$ percent is collected during the month following the sale.Of direct materials purchases, $80$ percent is paid for during the month purchased and $20$ percent is paid in the following month. Direct materials purchases for March $1$ totaled $$4,500.$ All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $$340$ in depreciation. During April, Iguana plans to pay $$3,500$ for a piece of equipment$\mathrm{.}1.$ Award: $20\mathrm{.}00$ pointsRequired:Compute the following for Iguana, Incorporated, for the second quarter $($April$,$ May, and June$).$AprilMayJune$2$nd QuarterTotal$1.$ Budgeted Sales Revenue$2.$ Budgeted Production in Units$3.$ Budgeted Cost of Direct Material Purchases$4.$ Budgeted Direct Labor Cost$5.$ Budgeted Manufacturing Overhead$6.$ Budgeted Cost of Goods Sold$7.$ Total Budgeted Selling and Administrative Expense