URGENT! Please do not round numbers

D Required information [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 build, and the labor rate averages $13 per hout 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: Narch 325 April 350 May 400 500 June July 475 hogurt 525 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $6,000 ($500 per month) for expected production of 5,000 units for the year. Selling and administrative expenses are estimated at $550 per month plus $0.60 per unit sold. Iguana, Inc., had $12,000 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 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materials purchases for March 1 totaled $2.000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $250 in depreciation. During April, Iguana plans to pay $4,000 for a piece of equipment. Required: 1. Compute the budgeted cash receipts for Iguana. 2. Compute the budgeted cash payments for Iguana. 3. Prepare the cash budget for Iguana. Assume the company can borrow in increments of $1,000 to maintain a $10,000 minimum cast balance. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the cash budget for Igna. Assume the company can borrow in increments of $1,000 to maintain a $10,000 minimum cash balance. (Leave no cell blank enter "0" wherever required. Round your answers to 2 decimal places) June Beginning Cash Balance $12,000.00 May 10,147.00 $ 10,382.00 s 7,900.00 9.800.00 8685.00 7.337.00 O 2nd Quarter Toll 32,500.00 O 24,650.00 Plux: Budgeted Cash Receipts Less: Budgeted Cash Payments 23,825.00 Preliminary Cash Balance $9,147.00 $ 11,362.00$ 12,825.00 S 33.334.00 Cash Borwed/Repaid 1,000.00 (1,000.00) Ending Cash Balance $ 10,147.00 $ 10.362.00 $12.825.00 S 33.334.00 6.950.000 9,803.00 O Required: 1. Compute the budgeted cash receipts for Iguana. 2. Compute the budgeted cash payments for Iguana. 3. Prepare the cash budget for Iguana. Assume the company can borrow in increments of $1,000 to maintain a $10,000 minimum cash balance. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the budgeted cash payments for Iguana. (Do not round your intermediate calculations. Round final answers to 2 decimal places.) 2nd Quarter Total June 7,337.00 $ Budgeted Cash Payments $ 9,803.00 $6,685.00