Iguana, Incorporated, manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 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 montins follow: Variable manufacturing overhead is incurred at a rate of $0.20 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 $0.50 per unit sold. Iguana. Incorporated, had $14,800 cash on hand on Apull 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 materiais purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materials puichases for March 1 totaled $4,500. All other operating costs are paid during the month incurred. Monthly fixed manulacturing overhead includes $280 in depreciation. During Apri, louana plans to pary $4,300 for a piece of equipment. Complete this question by entering your answers in the tabs below. Compute the budgeted cash receipts for Iguana. Note: Do not round your intermediate calculations. Round final answers to 2 decimal places. Complete this question by entering your answers in the tabs below. Compute the budgeted cash payments for Iguana. Note: Do not round your intermediate calculations. Round finai answers to 2 decimal places. Complete this question by entering your answers in the tabs below. Prepare the cash budget for lguana. Assume the company can borrow in increments of $1,000 to maintain a $14,000 minimum cash balance. No interest is charged if the loan is paid off by the end of the next quarter. Note: Leave no cell blank enter " 0 " wherever required. Round your answers to 2 decimal places