Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 5 linear feet of bamboo, which costs $1.80 per foot. Each frame takes approximately 36 minutes to build, and the labor rate averages $11.00 per hour. Iguana has the following inventory policies:

Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 5 linear feet of bamboo, which costs $1 .80 per foot. Each frame takes approximately 36 minutes to build, and the labor rate averages $11 .00 per hour. Iguana has the following inventory policies: 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. Expected unit sales (frames) for the upcoming months follow: Variable manufacturing overhead is incurred at a rate of $.40 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200.00 ($600.00 per month) for expected production of 4,256 units for the year. Selling and administrative expenses are estimated at $670.00 per month plus $.70 per unit sold. Required: Compute the following for Iguana, Inc., for the second quarter (April, May, and June). (Round your dollar amounts to 2 decimal places and your per unit amounts to the nearest whole number. Round intermediate calculations to I decimal place for direct labor hours and to 2 decimal places for per unit costs.) 1. Budgeted Sales Revenue 2. Budgeted Production in Units 3. Budgeted Cost of Raw Material Purchases 4. Budgeted Direct Labor Cost 5. Budgeted Manufacturing Overhead 6. Budgeted Cost of Goods Sold 7. Total Budgeted Selling and Adm. Expenses Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo, which costs $4.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: 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. Expected unit sales (frames) for the upcoming months follow: Variable manufacturing overhead is incurred at a rate of $0.20 per unit produced. Annual fixed manufacturing overhead is estimated to be $10,200 ($850 per month) for expected production of 6,000 units for the year. Selling and administrative expenses are estimated at $790 per month plus $0.50 per unit sold. Iguana, Inc., had $16,000 cash on hand on April 1 ... Of its sales, 80 percent s in cash. Of the credit sales, 50% is collected during the month of the sale, and 50% is collected during the month following the sale. Of raw materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Raw materials purchases for March 1 totaled $3,400. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $290 n depreciation. During April, Iguana plans to pay $4,400 for a piece of equipment. Required: 1. Compute the budgeted cash receipts for Iguana. (Do not round your intermediate calculations. Round final answers to 2 decimal places.) April May June 2nd Quarter Total Budgeted Cash Receipts