Questions 4-6 (of 7 The following information applies to the questions displayed below guana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4near feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 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 raw materials inventory should be 30 percent of next month's production. Expected unit sales (frames) for the upcoming months follow March 275 250 300 400 375 425 April June July August Variable manufacturing overhead is incurred at a rate of S0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7200 $600 per monthj for expected p year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold Iguana, Inc, had $10,800 cash on hand on Apri 1 Off ts sales, 80 percent is in cash. Of the credit sales, 50 percent is collected during the month of the sale, and 50 percent is c following the sale. purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Raw materials purchases for March 1 totaled $2.0 fixed manufacturing overhead includes $150 in depreciation. During April, lguana plans to pay $3,000 for a plece of equipment Includes $ paid during the month incurred. Monthly 10.00 points Required