Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. requires 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: Each frame 4 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: March April May June 275 250 300 400 375 425 August Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 (S600 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus S0.60 per unit sold. Data Section Selling price Direct materials Direct labor ft. minutes per ft. per hour Ending finished goods inventory Ending raw materials inventory next month's sales of next month's production Sale (units)s: March April May June July August Variable mfg. overhead Fixed mfg. overhead Sell & adm. expenses per unit annually per month per unit plus Sales budget April May June 2nd quarter Budgeted sales (units Unit sales rice Budgeted sales revenue Production budget April May June 2nd quarter Budgeted sales (units) Ending finished goods invento Beginning finished goods inventor Budgeted production Raw materials purchases budget April May June 2nd quarter Budgeted production Material requirements per unit Total material needed for production Ending raw materials invento Beginning raw materials inventor Budgeted raw materials purchases Material cost per foot Budgeted cost of raw materials purchases Direct labor budget April May June 2nd quarter Budgeted production Direct labor requirements per unit Direct labor hours required Direct labor rate Budgeted direct labor cost