Iguana, Incorporated, manufactures bamboo picture frames that sell for $$20$ each. Each frame requires $4$

linear feet of bamboo, which costs $$1\mathrm{.}50$ per foot. Each frame takes approximately $30$ minutes to bulld,

and the labor rate averages $$12$ per hour. Iguana has the following inventory policles:

Ending finlshed 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:

Varlable manufacturing overhead is Incurred at a rate of $$0\mathrm{.}20$ per unit produced. Annual fixed

manufacturing overhead is estimated to be $$7,200($ $$600$ per month$)$ for expected production of $4,000$

units for the year. Selling and administrative expenses are estimated at $$650$ per month plus $$0\mathrm{.}50$ per

unit sold.

Iguana, Incorporated, had $$10,800$ cash on hand on Aprll $1.$ 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 materlals purchases, $80$ percent is pald for during the month purchased and $20$ percent is pald

In the following month. Direct materlals purchases for March $1$ totaled $$2,400.$ All other operating costs

are pard during the month Incurred. Monthly fixed manufacturing overhead Includes $$320$ in

depreclation. During April, Iguana plans to pay $$4,100$ for a plece of equipment.

Requlred:

Compute the budgeted cash recelpts for Iguana.

Compute the budgeted cash payments for Iguana.

Prepare the cash budget for Iguana. Assume the company can borrow in Increments of $$1,000$ to malntaln a $$10,000$

minimum cash balance. No Interest is charged if the loan is pald off by the end of the next quarter.

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.