Iguana, Inc., manufactures bamboo picture frames that sell for

$25 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 $15.00 per hour. Iguana has the

following inventory policies:

        Ending finished

goods inventory should be 40 percent of next monthAc??cs sales.

        Ending raw

materials inventory should be 30 percent of next monthAc??cs

production.

the upcoming months follow:

     Variable manufacturing overhead is

incurred at a rate of $0.20 per unit produced. Annual fixed

manufacturing overhead is estimated to be $4,200 ($700 per month)

for expected production of 3,000 units for the year. Selling and

administrative expenses are estimated at $760 per month plus $0.50

per unit sold.

     Iguana, Inc., had $11,900 cash on

hand on April 1... Of its sales, 80 percent is in cash. Of the

credit sales, 50% is collected during the month of the sale, and

50% 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 $3,100. All other operating costs are paid during the month

incurred. Monthly fixed manufacturing overhead includes $260 in

depreciation. During April, Iguana plans to pay $4,100 for a piece

of equipment.

Required:

Compute the budgeted cash receipts for Iguana for April, May,

June, and 2nd quarter. (Do not round your intermediate

calculations. Round final answers to 2 decimal

places.)

Compute the budgeted cash payments for Iguana for April, May,

June, and 2nd quarter.. (Do not round your intermediate

calculations. Round final answers to 2 decimal

places.)

Prepare the cash budget for Iguana for April, May, June, and 2nd

quarter.. Assume the company can borrow in increments of

$1,000.00 to maintain a $10,000.00 minimum cash

balance.