Iguana, Inc., manufactures bamboo picture frames that sell for $20 each. Each frame requires 4 linear feet of bamboo, which costs $1.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $13 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. March 345 April 390 May 440 June 540 July 515 August 565 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 6,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.50 per unit sold. Iguana, Inc., had $15,800 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 $3,000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $290 in depreciation. During April, Iguana plans to pay $3,000 for a piece of equipment Required 1. Compete budget for an 2. Compute the begeed chamarta forma 2. Prepare the cash budget for en Assume the company can brow in increments of S.OOO to maintain a $1.000 minimum cash balance Complete this question by entering your news in the tabs below. Comote the budgeted cash receipts for quara. (Derct round your intermediata calations. Raund find answers to 2 ded) and Garter Tomat Budged Cash Required 1. Compute the budgeted cash restoran 2. Coroute me budgeted cash payments for 2. Prepare the cash budget for outra. Assume Te copy cen borow hcrements of $200 to maintain a $15.000 minimum cash balance Complete this question by avering your answers in the tale below. Resur Roured2 Reid Compute the budgeted cash payment for Igara (Da net sund your intermediate and tire. Round in rete 2 A are the new Digital Cost Peyron