Lily Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...

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Lily Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2022. January February March April May Estimated unit sales 13,200 15,400 14,300 12,100 12,100 Unit selling price $60 $57.5 $57.5 $57.5 $57.5 Direct labor hours per unit 2.0 2.0 1.5 1.5 1.5 Direct labor cost per hour $6.0 $6.0 $6.0 $7.0 $7.0 Lily has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Lily expects to begin the year with 19,360 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales. (b) Prepare a direct labor budget for Lily Company by month and for the first quarter of the year. The direct labor budget should include direct labor hours. (Round Direct labor hours per unit answers to 1 decimal place, e.g. 52.7.) $ +A +A $ Jan LILY COMPANY Direct Labor Budget For the Year Ending March 31, 2022 $ +A $ Feb EA $ Mar Total SA $ $ +A Lily Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2022. January February March April May Estimated unit sales 13,200 15,400 14,300 12,100 12,100 Unit selling price $60 $57.5 $57.5 $57.5 $57.5 Direct labor hours per unit 2.0 2.0 1.5 1.5 1.5 Direct labor cost per hour $6.0 $6.0 $6.0 $7.0 $7.0 Lily has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Lily expects to begin the year with 19,360 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales. (b) Prepare a direct labor budget for Lily Company by month and for the first quarter of the year. The direct labor budget should include direct labor hours. (Round Direct labor hours per unit answers to 1 decimal place, e.g. 52.7.) $ +A +A $ Jan LILY COMPANY Direct Labor Budget For the Year Ending March 31, 2022 $ +A $ Feb EA $ Mar Total SA $ $ +A