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Required information The following information applies to the questions displayed below) Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo, which costs $3.00 per foot Each frame takes approximately 30 minutes to build, and the labor rate averages $15 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. March April HY June July August 355 410 460 560 535 585 Variable manufacturing overhead is incurred at a rate of $0.50 per un produced. Annual fed manufacturing overhead is estimated to be $6,000 ($500 per month for expected production of 3,000 units for the year. Seing and administrative expenses are estimated at $550 per month plus 50 50 per unit sold Iguana, Inc., had $6,500 cash on hand on April tof les sales, 80 percent is in cash of the credit sales, 50 percentis collected during the month of the sale, and 50 percent is collected during the month following the sale Or 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 $5.000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $310 in depreciation. During Apr, guana plans to pay $4,500 Prev 1 2 3 of 3 PIE Next > MacBook Pro G Search or type URL A 3 $ 4 % 5 6 & 7 8 9 O W E R T Y U 1 o S D F G H J L ... C V B N M . MacBook Pro G Search or type URL A $ S 4 % 5 8 7 3 2 6 00 9 O 2. W E R T Y U I o A S D F G I J N C V B N M # 8 an command command opts