Iguana, Incorporated, manufactures bamboo picture frames that sell for $$25$ each. Each frame requires $4$ linear feet of bamboo, which costs $$2\mathrm{.}50$ 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:

$\backslash$table$[[$March$,350],[$April$,400],[$May$,450],[$June$,550],[$July$,525],[$August$,575]]$

Variable manufacturing overhead is incurred at a rate of $$0\mathrm{.}40$ per unit produced. Annual fixed manufacturing overhead is estimated to be $$10,800($ $$900$ per month$)$ for expected production of $4,000$ units for the year. Selling and administrative expenses are estimated at $$950$ per month plus $$0\mathrm{.}60$ per unit sold.

Iguana, Incorporated, had $$11,900$ 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 $$4,000.$ All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $$300$ in depreciation. During April, Iguana plans to pay $$2,000$ for a piece of equipment.

Required: $$

Complete Iguana's budgeted income statement for quarter $2.$

Note: Round cost per unit in intermediate calculations to $2$ decimal places.

$\backslash$table$[[$IGUANA$,$ INCORPORATED$],[$Budgeted Income Statement$],[$For the Quarter Ending June$],[,$April,May,June,$\backslash$table$[[2$nd Quarter$],[$Total$]]],[$Budgeted Cost of Goods Sold$],[$Budgeted Sales Revenue$],[,$$$,0,$$$,0,$$$,0,$$