G well Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has cumulated the following information for 2017 January February March April MAT Estimated unit sales 11,000 11400 8,900 8500 8.400 Sales price per $50.50 $48.40 $48.40 548.40 $48.40 Direct labor hours per unit 22 22 17 17 17 Wage per direct labor hour $8.00 $6.00 $8.00 $9.00 $9.00 Lowell has a labor contract that calls for a wage increase to $9.00 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 19.120 frames on hand and has a policy of carrying an end-of month inventory of 100% of the ollowing month's sales, plus 70% of the second following month's sales Prepare a production budget for Lowell Company try month and for the first quarter of the year