Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo which costs $250 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages 512 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 fames) for the upcoming months follow March April May June July August 288 200 310 410 385 435 Variable manufacturing overhead is incurred at a rate of $0.40 per un produced Annual fixed manufacturing overhead is estimated to be $7.900 ($650 per month for expected production of 3,000 units for the year. Seling and administrative expenses are estimated at $700 per month plus $0.50 per unit sold Iguana, Inc., had $10,900 cash on hand on April 1. Of its sales, 90 percent is in cash Of the credit sales, 50 percent is collected during the month of the sale, and 50 percent is colected 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 manth Direct materials purchases for March 1 totaled $2.500. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $160 in depreciation. During Aart, Iguana plans to pay $3,100 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 $ 0.00 Budgeted Cash Receipts 2. Compute the budgeted cash payments for Iguana. (Do not round your intermediate calculations. Round final answers to 2 decimal places.) April May June 2nd Quarter Total $ 0.00 Budgeted Cash Payments 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. (Leave no cell blank enter "o" wherever required. Round your answers to 2 decimal places.) April May June 2nd Quarter Total 0.00 0.00 Beginning Cash Balance Plus: Budgeted Cash Receipts Less: Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed / Repaid Ending Cash Balance