[The following information applies to the questions displayed below) Iguarz, Inc, manufactures bamboo picture frames that sell for $25 cach. 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 $12.00 per hour. Iguana has the following inventory policies: Ending finished goods inventory should be 40 percent of next month's seles. Ending raw materials inventory should be 3D percent of next month's production Expected unit seles rumes for the upcoming months follow Merch April May June July August 275 250 300 400 375 425 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced Annual bed manufacturing overhead is estimated to be $7,20D (600 per month for expected production of 4,000 unts for the year. Selling and administrative expenses are estimated at $650 per month plus S0.60 per unit solc Iguana, Inc, had $10,800 cash on hand on April 1. Of its sales, 80 percentis in cash. Of the credit sales, 50 percent is collected during the month or the salc, 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 following month. Raw materials purchases for March 1 totaled $2,000. All other aparating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes S150 in depredation. During April, Iguana plans to pay $3,000 for a piece of cquipment. Required Information Required: Compute the following for Iguana, Inc., for the second quarter (April, May, and June). (Do not round your intermediate calculations.) April May June 2nd Quarter Total 1. Budgeted Sales Revenue 2. Budgeted Production in Units 3. Budgeted Cost of Raw Material Purchases 4. Budgeted Direct Labor Cost 5. Budgeted Manufacturing Overhead 6. Budgeted Cost of Goods Sald. 7. Total Budgeted Selling and Adm. Expansas References eBook & Resources