The tollowing information applies to the questions displayed below Iguana, Inc,

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The tollowing 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 $2.00 per foot Each frame takes approximately 30 minutes to build, and the labor rate averages $13 per hour. Iguana has the following inventory policies: . 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 unt sales (frames) for the upcoming months follow March April 365 430 580 605 August Veriable manufacturing overheed is incurred at a rate of S0.30 per unit produced. Annual fxed manufacturing overhead is estimated to be $4,800 ($400 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $450 per month plus $O.50 per unit sold. Iguana, Inc, had $11,000 cash on hand on April1 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 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 $3.400. All other operating costs are paid during the month incurred. Monthly fooed manufacturing overheed includes $330 in depreciation. During April, lguana plans to pay $2,000 for a plece of equipment Compute the following for Iguana, Inc., for the second quarter (April, May, and June). April May 1. Budgeted Sales Revenue 2. Budgoted Production in Units 3. Budgotod Cost of Raw Matorial Purchases 4. Budgeted Direct Labor Cost G. Budgoted Cost of Goods Sold Total Budgeted Selling and Adm. 0.00

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Sales Budget - Iguana Inc. Particulars April May June 2nd Quarter Total Sales units 430 480 580 1490 Selling price per unit $20.00 $20.00 $20.00 $20.00 Budgeted Sales Revenue $8,600.00 $9,600.00 $11,600.00 $29,800.00

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