Iguana, Incorporated. manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear 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 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: Variable manufacturing overhead is incurred at 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. Selling and administrative expenses are estimated at $750 per month plus $0.50 per unit sold 1guane. incorporated, hed $13,500 cesh 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 s collected during the month following the sale. Of dicect materi a surchases. 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct maserials purchases for March 1 totaled $2,800. All other operating costs are pald during the month incurred Monthy fixed manufocturing overhead includes $260 in depreciston. During Apilh, iquana olans to pay $2,600 for a biece of equ pment 1. Compute the buigeted cash receipts for louanin. 2. Conpute the budgeted cash payments for iquana balarke, No interest is charged if the loan is paid of by the end of the theyt cunter. Complete this questain by entering your answers in the tates belows. for a piece of equipment. Alequltede 2. Comoute the budgeted cash paymerits for ligunna. 3. Prepute the cosh bogget tor igudna Assume the cod Complete this question by entering your answers in the tabs below