IGUANA, INC. General information: Selling price of picture frames Linear feet of bamboo required per frame Cost of bamboo per foot Hours required to build Average hourly labor rate $ 25.00 4 $ 2.00 0.50 $ 12.00 Additional information: Ending finished goods inventory should be 40 percent of the next month's sales Ending raw materials inventory should be 30 percent of the next month's production 0.30 $ 7,200 Variable manufacturing overhead rate per unit produced Estimated annual fixed manufacturing overhead Expected units of production Estimated monthly selling and administrative expenses: 4,000 650 0.60 Fixed Per unit sold $ Expected number of frames sold in following months: March April May June July August 275 250 300 400 375 425