Exercise 23-10 (Part Level Submission) Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2017 January February March April May Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour 10,400 $50.80 2.3 $7.00 8,600 $47.90 $47.90 $47.90 $47.90 11, 100 8,000 9,000 2.3 1.6 $7.00 $7.00 $8.00 8.00 Lowell has a labor contract that calls for a wage increase to $8.00 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1 Lowell expects to begin the year with 15,950 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 50% of the second following month's sales. Prepare a production budget for Lowell Company by month and for the first quarter of the year LOWELL COMPANY Production Budget an Feb Mar Total Attempts: O of 3 used The parts of this question must be completed in order. This part will be available when you complete the part above