Iguana, Inc, manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 unear feet of bamboo. which costs $200 per foot Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour Iguana has the followng inventory pollcies - Ending fintshed goods inventory should be 40 percent of next month's sales. - Ending direct materlais Inventory should be 30 percent of next month's production. Expected unit sales (frames) for the upcoming months follow Variable manufacturing overhead is incurred ot a rate of $0.40 per unit produced. Annual fixed manufacturing overhead is estimated to be $8,400 ( $700 per month) for expected production of 4,000 units for the year. Seling and administrative expenses are estimated at $750 per month plus $0.50 per unit sold Iguana, Inc, had $13.500 cash on hand on April 1. Or its sales, 80 percent is in cash. Or the credit sales, 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale Or direct materlals 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 totated $2,800. All other operating costs are pald during the month Incurred. Monthly fixed manufacturing overhead includes $260 in depreciation. During April, lguana plans to pay $2,500 for a plece of equipment. lequired: Compute the budgeted cash receipts for iguana Compute the budgeted cash payments for iguana: Prepare the cash budget for Iguana. Assume the company can borrow in increments of $1,000 to maintain a $13,000 minimum cash alance. Requlred: 1. Compute the budgeted cash receipts for iguana 2. Compute the budgeted cash payments for iguana 3. Prepare the cash budget for lguana. Assume the company can borrow in increments of $1,000 to maintain a $13,000 minimum cash balance Complete this question by entering your answers in the tabs below. Compute the budgeted cash receipts for Iguana. (Do not round your intermediate calculations. Round final answers to ? decimal places.)