In = Adeon to wazeb. dredt matudactuning laberiedated copls roluse penion hout antpeyes nedieac intyranee of 50.40 per hout, and Social Senurty tares. mesulactsing abar onst. Wiskam nas a labot ombrad that cals tor a wege incrase to 514 per hout on Aqp1 1, 2nat, New labch srive machinery hat been instated and will be Lily eswabiatal ty thach 4,2021 Wobram nipeifi is hine 16.000 thenet en hand at Wekhant Ceecany by montit and bo the fest cuareer of 2021 . You aray tudget should indide labce-houns and shen ite itetills for each labor toat taboger. 2. What axsios has the booget proceas putrped Wichar's minagement to. tain? te behter manige the comiany? Data table inka te te projaced Derd imatufaituring tasoratiars per unil Fow hours of atect ramalat red lebor time netsed information for atilit: Road the In addzon to wapes, direct mansiacturing laber-felaled oosts indude pension contributions of 50.50 per hour, wokkers compensation insurnnce of $0.10 per: hour, empiopee medical insurance of 50.40 per hout, and Social Securty taxes. Atsume that as of Januacy 1, 2te1, the Sociol Socurily lax fates are 7.5y for enployese and 7.5% for empioyees. The cost of employe benefits paid by Wekham on is drect manulacturing employoes is treated as a direst manutacturing tabor cost. Woitham hat a Lbbot controct that cals for a wape increase to $14 per hour on April 1, 2021. New tabor-saving machinery has been inttalled and will be fully operational by March 1, 2021. Wolham expects to have 16,000 frames on hard at December 31, 2520, and it has a policy of carying an end-ol-menth inventory of 1003 of the following month's sales plus 50% of the second folowing montr's nales. Data table Wictham Company makes and sels artisec trames for pictures of wedding5, graduations, and other special evonts. Ron Kyler, the controler, is responsible for preparing Wicktamis mastar budget and hes accurrula'nd the following information for 2021 : (Click the ieon to viaw soeme of the fnancial infarmation.). (i) (Cick tho icon to vew addtional ivformaton.) Reod the izqukemants. Requirement 1. Prepare a production budgat and a diect manutacturing labor cosi busget for Wiskham Company by manth and for the first guarler of 2021 . You may contine both budgets in one schedile. The direct mandacturng laber coes budget thould include labse-hours and show the detads for each labor cont cilegory. Start the schedule by preparing the producton budget and caiculacing the tolal hours of drect manufacturng labor time noedod for the three months in the quathc, then calculase the values fer the quaser. Finish by presantg the bottem zorton of the schedule for the drect manufacturing labor by mone, then quarter. (Enter the direct manufacturng lates:hours per unt lo ene docime plsce. X Do not round inlecim culculations, and then eniter all arnconts in the budget [other than the direct manulacturing labse haurs per unt to the nearest shole number) (Click the icon to view some of the financial information.) (Click the icon to view additional information.) Read the requirements. Data table Requirements d for the first quart 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category. 2. What actions has the budget process prompted Wickham's management to take? 3. How might Wickham's managers use the budget developed in requirement 1 to better manage the company? More info In addition to wages, direct manufacturing labor-related costs include pension contributions of $0.50 per hour, worker's compensation insurance of $0.10 per hour, employee medical insurance of $0.40 per hour, and Social Security taxes. Assume that as of January 1,2021, the Social Security tax rates are 7.5% for employers and 7.5% for employees. The cost of employee benefits paid by Wickham on its direct manufacturing employees is treated as a direct manufacturing labor cost. Wickham has a labor contract that calls for a wage increase to $14 per hour on April 1, 2021. New labor-saving machinery has been installed and will be fully operational by March 1, 2021. Wickham expects to have 16,000 frames on hand at December 31, 2020, and it 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. Wickam Company makes and solls artistic frames for pietures of weddings, graduaticos, and other special ewents. Ron Kyer, the controler, is respons ble for preparing Wickham's master budget and has abcumulated the folowing information for 2021: (Cick the iogn to view some of the financial insormation.) [Cick the icon to view additionali information.) Fiead the requirements: Requirement 1. Prepare a production budget and a direct manufacturing tabor cost budget for Wickham Company by month and for the first euarter of 2021 . You may combine both budgots in cone sehedule. The direct manufacturing labor cost budget should inelude labor-hours and show the details for each labor cost category. Stant the schedule by preparing the production budget and calculabing the total hours of direct manulacturing tabor time needed for the theee months in the quarter, then ealculase the values for tha x X poninsth by preparing the bottom portion of the schedule for the drect manufacturing labor by month, then quarter. (Enter the direct manudactiring labar-hours per unit to one decimal place