urgent

Required information [The following information applies to the questions displayed below] Iguana, Incorporated, manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to buid, and the labor rate averages $14 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: Variabie manufacturing overhead is incurred at a rate of $0.20 per unit produced. Annual fixed manufacturing overhead is estimated to be $9,000 (\$750 per month) for expected production of 5,000 units for the year. Selling and administrative expenses are estimated at $800 per month plus $0.50 per unit sold. Iguana, Incorporated, had $11,800 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 percent is paid for during the month purchased and 20 percent is paid in the foliowing month. Direct materials purchases for March 1 totaled $2.600. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $190 in depreciation. During April, lguano plans to pay $3,400 for a piece of equipment. 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 $2,600. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $190 in depreciation. During April, lguana plans to pay $3,400 for a piece of equipment. Required: 1. Compute the budgeted cash receipts for lguana. 2. Compute the budgeted cash payments for lguana. 3. Prepare the cash budget for iguana. Assume the company can borrow in increments of $1,000 to maintain a $11,000 minimum cas balance. No interest is charged if the loan is paid off by the end of the next quarter. Complete this question by entering your answers in the tabs below. Compute the budgeted cash receipts for louana. Note: Do not round your intermediate calculations. Round final answers to 2 decimal places. percent is collected during the month of the sale, and 50 percent is collected during the month foliowing 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 materiats purchases for March 1 totaled $2,600. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $190 in depreciation. During Apri, iguana plans to pay $3,400 for a plece of equipment. Required: 1. Compute the budgeted cash recelpts for lguana. 2. Compute the budgeted cash payments for lguana. 3. Prepare the cash budget for Iguana. Assume the company can borrow in increments of $1,000 to maintain a $11,000 minimum cash balance. No interest is charged if the loan is paid off by the end of the next quarter. Complete this question by entering your answers in the tabs below. Compute the budgeted cash payments for louana. Note: Do not round your intermediate calculations, Round fnal answers to 2 decimal piaces. 1. Compute the budgeted cash receipts for Iguana, 2. Compute the budgeted cash payments for lguana. 3. Prepare the cash budget for lguata. Assume the company can borrow in increments of $1,000 to maintain a $11,000 minimum cash balance. No interest is charged if the loan is paid off by the end of the next quarter. Complete this question by entering your answers in the tabs below. Prepare the cash budget for Iguana. Assume the company can borrow in increments of $1,000 to maintain a $11,000 minimum cash balance. No interest is charged if the loan is paid off by the end of the next quarter. Note: Leave no cell blank enter 70 wherever required. Round your answers to 2 decimal places