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The following information applies to the questions displayed below] Iguana, Inc., manufactures bamboo picture frames that selRequired: Complete Iguanas budgeted income statement for quarter 2. (Round cost per unit in intermediate calculations and fi

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Computation of Unit Product Cost - Iguana Inc.
Particulars Per Unit Cost
Direct Material (4*$2.50) $10.00
Direct labor (0.5 hour * $14) $7.00
Variable manufacturing overhead $0.20
Fixed manufacturing overhead ($9000 /5000) $1.80
Unit Product Cost $19.00
Budgeted Income Statement - Iguana Inc.
Particulars April May June 2nd Quarter Total
Budgeted Sales Revenue (Unit Sales *$30) $8,700.00 $10,200.00 $13,200.00 $32,100.00
Budgeted Cost of goods Sold (Units sales*$19) $5,510.00 $6,460.00 $8,360.00 $20,330.00
Budgeted Gross Margin $3,190.00 $3,740.00 $4,840.00 $11,770.00
Selling and Administrative Expenses:
Variable ($0.50 per unit) $145.00 $170.00 $220.00 $535.00
Fixed $800.00 $800.00 $800.00 $2,400.00
Budgeted Net Operating Income $2,245.00 $2,770.00 $3,820.00 $8,835.00
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