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i safari File Edit View History Bookmarks Window Help ? 45% D). ? ? ?))) Tue Jun 19 7:33 PM Alex C ezto.mneducation.com Home - alamo.edu Chapter 8 Exercises The following information applies to the questions displayed below 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 $12.00 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 unit sales (frames) for the upcoming months follow March April May June July August 275 250 300 400 375 425 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold. Iguana, Inc., had $10,800 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 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 $2,000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $150 in depreciation. During April, Iguana plans to pay $3,000 for a piece of equipment value 6.76 points Required information 19 popcorntime ap

Solution

Note: As per Chegg only 4 part can be solved

Prepartion of Sales Budget
		April	May	June
	Sales Unit	250	300	400
	Selling Price/Unit	$25	$25	$25
	Budgeted Sales Value	$6,250	$7,500	$10,000