I ONLY NEED ANSWERS FOR QUESTION 2 & 3!!! PLEASE HELP!!!

The following information applies to the questions displayed below. Iguana, Inc., manufactures bamboo picture frames that sell for $25 each Each frame requires 4 linear feet of bamboo which costs $2.00 per foot. Each frame takes aporoximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the folowing inventory policies Part 1063 Ending finished goods inventory should be 40 percent of next month's sales. Ending raw materials inventory should be 30 percent of next month's production 33.33 Expected unit sales Boo REDES ste Vanacemenciatura estimated to be S8:40015 gentes de estrated as pendientes forcing Overendis C its forever see and administrative the oth H Oostens 39000 collected the most Ofertele mo Ramos perda Monthly reconoci C of the cretes 50 percentis the tale 20 percent of the following sd during the months incurrec blony $2.500 or spece Monthly fixed manufacturing overhead includes $260 in depreciation. During April, Iguana plans to pay $2.500 for a plece of equipment Part 1 of 3 Required: Compute the following for Iguana, Inc., for the second quarter (April May, and June). 33.33 points Answer is complete and correct. April May June 2nd Quarter Total 4. Budgeted Sales Revenue Budgeted Production in Units Budgeted Cost of Raw Material Purchases Budgeted Direct Labor Cost Budgeted Manufacturing Overhead Budgeted Cost of Goods Sold Total Budgeted Selling and Adm Expenses 9,000 $ 10.250 S 380450 3,208 3.720ls 2 660 S 3.150 S 852 880S 6300 S 7.175s 930 's 955 ls 12,750 32.000 500 1330 4012 S 10940 3.500S 9310 900 2.632 8,925 S 22.400 1005 s 2890.00 5. 6. $ Required: Complete Iguana's budgeted income statement for quarter 2 (Round cost per unit in intermediate calculations and final answers to 2 decimal places.) Answer is complete and correct. 33.33 points June 2nd Quarter Total IGUANA, INC. Budgeted Income Statement For the Quarter Ending June April May Budgeted Sales Revenue os 9.00000 10.250 00 $12.750.000 32.000.000 Budgeted Cost of Goods Sold 6300 007 .175 00 3.925 00 22.400 000 - Budgeted Gross Margin T 5 2.700 005 3 075 00153 825 005 9.60000 Budgeted Seling and Administrative Expenses 1930 20 95500 1005002890 00 TSF70 00||E 120 00|512 820 00||$ 8710.00 | Budgeted Net Operating income Required information places.) Part 3 073 2nd Quarter Answer is complete and correct. May June 510.125 00 s12.50000 31.550.00 April 8.925 00 Budgeted Cash Receipts (Do not found your intermediate calculations, Round final answers to 2 2. Compute the budgeted cash payments for iguan decimal places.) Answer is complete but not entirely correct. June 2nd Quarter April $ 8.470.00 8.343.00 6090.00 25 12.00 Payments 3. Prepare the cash budget for Iguana Assume the company can borrow in increments of $1.000 to maintain a $13.000 minimum cash balance. (Leave no cell blank enter "0" wherever required. Round your answers to 2 decimal places.) Total Beginning Cash Balance Plus Budgeted Cash Receipts Less: Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed / Repaid Ending Cash Balance April S 13,500.00 8,925.00 9,808.40 S 12.616.60 1,000.00 S 13.616.60 Answer is not complete. May June S 13.616.60 s 14.399.00 10.125.00 12.500.000 8.342.50 9.098.60 s 15,399.00 S 17 80040S (1.000. 00 0 .00 $ 14 399.00 $ 0.00 2nd go S 41515.60 31.550.00 27 249 60 45 816 00 3 $ 28.015.60 The following information applies to the questions displayed below. Iguana, Inc., manufactures bamboo picture frames that sell for $25 each Each frame requires 4 linear feet of bamboo which costs $2.00 per foot. Each frame takes aporoximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the folowing inventory policies Part 1063 Ending finished goods inventory should be 40 percent of next month's sales. Ending raw materials inventory should be 30 percent of next month's production 33.33 Expected unit sales Boo REDES ste Vanacemenciatura estimated to be S8:40015 gentes de estrated as pendientes forcing Overendis C its forever see and administrative the oth H Oostens 39000 collected the most Ofertele mo Ramos perda Monthly reconoci C of the cretes 50 percentis the tale 20 percent of the following sd during the months incurrec blony $2.500 or spece Monthly fixed manufacturing overhead includes $260 in depreciation. During April, Iguana plans to pay $2.500 for a plece of equipment Part 1 of 3 Required: Compute the following for Iguana, Inc., for the second quarter (April May, and June). 33.33 points Answer is complete and correct. April May June 2nd Quarter Total 4. Budgeted Sales Revenue Budgeted Production in Units Budgeted Cost of Raw Material Purchases Budgeted Direct Labor Cost Budgeted Manufacturing Overhead Budgeted Cost of Goods Sold Total Budgeted Selling and Adm Expenses 9,000 $ 10.250 S 380450 3,208 3.720ls 2 660 S 3.150 S 852 880S 6300 S 7.175s 930 's 955 ls 12,750 32.000 500 1330 4012 S 10940 3.500S 9310 900 2.632 8,925 S 22.400 1005 s 2890.00 5. 6. $ Required: Complete Iguana's budgeted income statement for quarter 2 (Round cost per unit in intermediate calculations and final answers to 2 decimal places.) Answer is complete and correct. 33.33 points June 2nd Quarter Total IGUANA, INC. Budgeted Income Statement For the Quarter Ending June April May Budgeted Sales Revenue os 9.00000 10.250 00 $12.750.000 32.000.000 Budgeted Cost of Goods Sold 6300 007 .175 00 3.925 00 22.400 000 - Budgeted Gross Margin T 5 2.700 005 3 075 00153 825 005 9.60000 Budgeted Seling and Administrative Expenses 1930 20 95500 1005002890 00 TSF70 00||E 120 00|512 820 00||$ 8710.00 | Budgeted Net Operating income Required information places.) Part 3 073 2nd Quarter Answer is complete and correct. May June 510.125 00 s12.50000 31.550.00 April 8.925 00 Budgeted Cash Receipts (Do not found your intermediate calculations, Round final answers to 2 2. Compute the budgeted cash payments for iguan decimal places.) Answer is complete but not entirely correct. June 2nd Quarter April $ 8.470.00 8.343.00 6090.00 25 12.00 Payments 3. Prepare the cash budget for Iguana Assume the company can borrow in increments of $1.000 to maintain a $13.000 minimum cash balance. (Leave no cell blank enter "0" wherever required. Round your answers to 2 decimal places.) Total Beginning Cash Balance Plus Budgeted Cash Receipts Less: Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed / Repaid Ending Cash Balance April S 13,500.00 8,925.00 9,808.40 S 12.616.60 1,000.00 S 13.616.60 Answer is not complete. May June S 13.616.60 s 14.399.00 10.125.00 12.500.000 8.342.50 9.098.60 s 15,399.00 S 17 80040S (1.000. 00 0 .00 $ 14 399.00 $ 0.00 2nd go S 41515.60 31.550.00 27 249 60 45 816 00 3 $ 28.015.60