Iguana, Incorporated, manufactures bamboo picture frames that sell for $$25$ each. Each frame requires $4$ linear feet of bamboo, which costs $$2\mathrm{.}00$ per foot. Each frame takes approximately $30$ minutes to build, and the labor rate averages $$12$ 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:

$\backslash$table$[[$March$,340],[$April$,380],[$May$,430],[$June$,530],[$July$,505],[$August$,555]]$

Variable manufacturing overhead is incurred at a rate of $$0\mathrm{.}20$ per unit produced. Annual fixed manufacturing overhead is estimated to be $$8,400($ $$700$ per month$)$ for expected production of $6,000$ units for the year. Selling and administrative expenses are estimated at $$750$ per month plus $$0\mathrm{.}50$ per unit sold.

Iguana, Incorporated, had $$14,800$ cash on hand on April $1.$ Of its sales, $80$ percent is in cash. Of the credit sales, $50$ percent is collected during the month of the sale, and $50$ percent is collected 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 month. Direct materials purchases for March $1$ totaled $$4,500.$ All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $$280$ in depreciation. During April, Iguana plans to pay $$4,300$ for a piece of equipment.

PA$8-1($Algo$)$ Preparing Operating Budgets $[$LO $8-3$a$,$ b$,$ c$,$ d$,$ e$,$ f$,$ g$]$

Required:

Compute the following for Iguana, Incorporated, for the second quarter $($April$,$ May, and June$).$

$\backslash$table$[[,$April,May,June,$\backslash$table$[[2$nd Quarter$],[$Total$]]],[1.$ Budgeted Sales Revenue,$$,9,500,$$$,10,750,$$$,13,250,$$$,33,500],[2.$ Budgeted Production in Units,,$400,,470,,520,,1,390],[3.$ Budgeted Cost of Direct Material Purchases,,,,,,,$$,0],[4.$ Budgeted Direct Labor Cost,,,,,,$,$$$,0],[5.$ Budgeted Manufacturing Overhead,,,,,,,$$,0],[6.$ Budgeted Cost of Goods Sold,,,,,,,$$,0],[7.$ Total Budgeted Selling and Administrative Expense,,,,,,,$$,0]]$