The following information applies to the questions displayed below) Iguana, Inc., manufactures bemboo picture frames to buld, and the labor rate averages $11 per hour. lguana has the following inventory policies that sell for $30 each Each freme requires 4 linear feet of bamboo, which costs $3.00 per foot. Each frame takes approximately 30 minut 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 April May June July August 300 300 350 450 425 475 Variable manufacturing overheed is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimatedto be $9,600 ($800 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $850 per month plus $0.60 per unit sold. lquana, Inc, had $12,800 cash on hand on Aprl 1. Of 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 collected during the month following the sale Of raw materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the folliowing month. Raw materials purchases for March 1 totaled $3,500. Al otho operating costs are paid during the month incurred. Monthly f ed manfacturing overhead i cludes S200 n depreciation. During April, iguana plans to pay S3500 for pece of equipment. Required information 2.00 points MacBook A