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 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 direct materials inventory should be 30 percent of next month's production Expected unit sales (frames) for the upcoming months follow March Variable manufacturing overhead is incurred at a cate or $0.30 per unit produced, Annual fixed manufacturing overhead estimated to be $7.200 ($600 per month for expected production of 4.000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold. Iguana Inc, had $10,800 cash on hand on Apror its sales, 80 percentis in cash of the credit sales 50 percent is collected during the month or the sale, and so percentis collected during the month following the sale or direct materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Otec materials purchases of March totaled $2.000. All other aperating costs are paid during the month incurred. Monthlywed manufacturing overhead includes $150 in depreciation. During April, guana plans to pay $3.000 for a piece of equipment PA8-3 (Static) Preparing Cash Budget (LO 8-4) Required: 1. Compite the budgeted casti nece istoriguara 2. Compute the budgeted cash payments for all 3. Prepare the cash budget for Iguan. Assume conna minimum Gashi balance cariereinrements of $100 to maintain a $10.000 Required: 1. Compute the budgeted cash receipts for iguana. 2. Compute the budgeted cash payments for Iguana. 3. Prepare the cash budget for iguana. Assume the company can borrow in increments of $1,000 to maintain a $10,000 minimum cash balance. Complete this question by entering your answers in the tabs below. Required Required Required 2 Compute the budgeted cash receipts for Iguana. (Do not round your intermediate calculations. Round final answers to 2 decimal places.) April June June 2nd Quarter Budgeted Cash Receipts $ Total 0.00 Required 2 >