prepare the following for iguana inc, for the second quarter (april,may,june). include each month as well as the qaurter 2 total for each budget

Iguana, Inc., 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 $12.00 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. ExDected unit sales (frames) for the upcoming months follow: Variable manufacturing overhead is incurred at a rate of $0.30 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 $0.60 per unit sold. Page 386 Required: Prepare the following for Iguana, Inc., for the second quarter (April, May, and June). Include each month as well as the quarter 2 total for each budget. 3. Sales budget: 4. Production budget. 5. Direct materials purchases budget. 6. Direct labor budget. 7. Manufacturing overhead budget. 8. Budgeted cost of goods sold. 9. Selling and administrative expenses budget. IGUANA, INC. Additional information: Ending finished goods inventory should be 40 percent of the next month's sales Ending direct materials inventory should be 30 percent of the next month's production Expected number of frames sold in following months: IGUANA, INC. Requlrement 1: Sales budget Budgeted sales (units) Unitsales price Budgeted sales revenue April May June 2ndQuarter