Shadee Corporation expects to sell 650 sun shades in May and 390 in June. Each shade sells for $142. Shadee's beginning and ending finished goods inventories for May are 60 and 40 shades, respectively. Ending finished goods inventory for June will be 70 shades. Each shade requires a total of $55.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 120 in direct materials inventory on May 1,80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Additionally. Shadee's fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: - Selling costs are expected to be 11 percent of sales. - Fixed administrative expenses per month total $1,600. Required: Prepare Shadee's selling and administrative expense budget for May and June. Note: Do not round your intermediate calculations. Round your answers to 2 decimal places. Iguana, Incorporated, 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 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: Varlable manufacturing overhead is incurred at a rate of $0.20 per unit produced. Annual fixed manufacturing overhead is estimated to be $8.400 ( $700 per month) for expected production of 6.000 units for the year. Selling and administrative expenses are estimated at $750 per month plus $0.50 per unit sold. Iguana, Incorporated, had $14,800 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 percentis paid for during the month purchased and 20 percent is paid in the following month. Direct materials purchases for March 1 totaled $4,500. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $280 in depreciation. During April, Iguana plans to pay $4.300 for a piece of equipment. Required: Compute the following for Iguana, Incorporated, for the second quarter (April, May, and June)