! Required information [The following information applies to the questions displayed below! 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 frome takes approximately 30 minutes to build and the labor rote 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 Expected unit sales (frames) for the upcoming months follow March April May June July August 275 250 300 100 375 425 Variable manufacturing overhead is incurred at a rate of So 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.