Iguana, Incorporated, manufactures bamboo picture frames that sell for

$$25$ each. Each frame requires $4$ linear feet of bamboo, which costs

$$3\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:

Variable 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 $$10,500$ 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 $$2,000.$ All other operating

costs are paid during the month incurred. Monthly fixed manufacturing

overhead includes $$240$ in depreciation. During April, Iguana plans to

pay $$2,000$ for a piece of equipment.

Required:

Compute the budgeted cash receipts for Iguana.

Compute the budgeted cash payments for Iguana.

Prepare the cash budget for Iguana. Assume the company can borrow in increments

of $$1,000$ to maintain a $$10,000$ minimum cash balance. No interest is charged if the

loan is paid off by the end of the next quarter.

Compute the budgeted cash receipts for Iguana.

Note: Do not round your intermediate calculations. Round final answers to $2$ decimal places

Compute the budgeted cash payments for Iguana,

Note: Do not round your intermediate calculations. Round final answers to $2$ decimal places.

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

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.