Exercise 9-10 (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 2020 January Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour 10,400 $50.70 2.0 February 11,800 $48.40 2.0 57 March 8,700 $48.40 1.5 57 April ,300 $48.40 1.5 58 May ,300 $48.40 Lowell has a labor contract that calls for a wage increase to $8 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 16,300 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. (a) Your answer is partially correct. Try again. Prepare a production budget for Lowel Company by month and for the first quarter of the year LOWELL COMPANY Production Budget For the Quarter Ending March 31, 2020 Total 10400 Texpected Unit Sales CALCULATOR PRINTER VERSION 4 Variable costs Indirect Materials 20608 69504 Indirect labor 16380 20930 70950 T Maintenance 7450 8050 27150 09 Total Variable 46252 49588 167604 Fixed Costs Supervisory Salaries DOGUL LOAN U BEREG dddd 150480 Depreciation 72880 Fixed Costs 161494 188573 189816 Direct labor hours