Crane 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. Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour January 9,600 $60 2.0 $6.0 February March April May 11,200 $57.5 2.0 $6.0 10,400 8,800 8,800 $57.5 1.5 $6.0 $57.5 1.5 $7.0 $57.5 1.5 $7.0 Crane 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. Crane expects to begin the year with 14,080 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.

Crane 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. Crane 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. Crane expects to begin the year with 14,080 frames on hand and has a policy of carrying an end-of month inventory of 10096 of the following month's sales, plus 40% of the second following month's sales. Prepare a production budget for Crane Company by month and for the first quarter of the year. Prepare a production budget for Crane Company by month and for the first quarter of the year