[The following information applies to the questions displayed below] iguana, Inc, manufactures bamboo picture frames that sell for $20 each. Each frame requires 4 linear feet of bamboo. which costs $1.50 per foot. Each frame takes approximately 30 minutes to bulld, and the labor rate averages $13 per hour. Iguana has the following inventory policies. - Ending finished goods inventory should be 40 percent of nexa month's sales. - Ending direct materials inventory stiould be 30 percent of next month's production. Expecied unit sales (frames) for the upcoming months follow: Vanable manulocturing overbead is incured at e tate of 5030 per unit produced. Annual fixed manufacturing averhead is estimoted to be 57.200 (\$600 per month) for expected producton of 6,000 units for the year Selling and administrative expenses are estimated at 5650 per month plus $0.50 per unit sold Iguand. Inc. had $15,800 cash oni hand on Apel 1 or its sales, 80 petcent ie in casi. Ot the credit sales, 50 percent is colfected cungg the month of the sale, and 50 percent is collected duning the month following the sale. On direct matenals putchoses. 80 percentis poid for cunng the month purchased and 20 percent is paid in the toilowing month Direct materals purchases fon Morch 1 totoied 53,000 Al other operating costs are paid during the month. incurted Monthly fued menufictunng ovethead includes $290 in depteciation Buring Apri, iguanta pians to 9 ay $3,000 Compute the following for Iguana. Inc., for the second quarter (April May, and June). \begin{tabular}{|l|l|} \hline & \\ \hline 1. & Budgeted Sales Revenue \\ \hline 2. & Budgeted Production in Units \\ \hline 3 & Budgeted Cost of Direct Material Purchases \\ \hline 4 & Budgeted Direct Labor Cost \\ \hline 5 & Budgeted Manufacturing Overhead \\ \hline 6 & Budgeted Cost of Goods Sold \\ \hline 7 & Total Budgeted Solling and Adrninistrative Expenties \\ \hline \end{tabular}