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 S 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 Variable manufacturing overhead rate per unit produced $ Estimated annual fixed manufacturing overhead Expected units of production Estimated monthly selling and administrative expenses $ 7,200 4,000 650 S 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