Requlred Information [The following infomation appies to the questions olsplayed below.] Iguana, Incorporated, manufactures bamboo plcture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $200 per foot. Each frame takes approwimately 30 minutes to bulld, and the labor rate averages $1200 per hour. Iguana has the following inventory policles: - Ending finished goods Inventory should be 40 percent of next month's sales. - Ending direct materlals inventory should be 30 percent of next month's production. Expected unit siles (frames) for the upcoming months follow: Varlable manufacturing overhead is Incurred at a rate of $0.30 per unit procuced. Annual flxed 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 soid. Iguana, Incorporated, had $10,800 cash on hand on April 1 . Of its sales, 80 percent is in cash. Of the creclt sales, 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale. Or direct materlals purchases, 80 percent is pald for during the month purchased and 20 percent ls pald in the following month. Dlrect materlals purchases for March 1 totaled \$2,000. All other operating costs are paid during the month Incurred. Monthly flxed manufacturing overnead includes $150 in depreclation. During April, Iguana plans to pay $3,000 for a plece of equipment. Requlred: Compute the following for Iguans, Incorporated, for the second quarter (Aprll, May, and June). Note: Do not round your intermedlate calculations