January February March April May 13.680 15.960 14,820 12.540 12.540 $40 $37.5 $37.5 $37.5 $37.5 Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour 2.0 2.0 15 1.5 15 $7.0 $7.0 $7.0 $8.0 $8.0 Sheridan has a labor contract that calls for a wage increase to $8.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Sheridan expects to begin the year with 20,064 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. (a) Prepare a production budget for Sheridan Company by month and for the first quarter of the year. SHERIDAN COMPANY Production Budget For the Quarter Ending March 31, 2022 Jan Feb Mar Tota 13680 15960 14820 eTextbook and Media Save for Later Last saved 1 minute ago. Saved work will be auto-submitted on the due date. Auto-submission can take up to 10 minutes, Attempts:0 of 1 used Submit Answer Prepare a direct labor budget for Sheridan Company by month and for the first quarter of the year. The direct labor budget should include direct labor hours (Round Direct labor hours per unit answers to 1 decimal place, e.g. 52.7.) SHERIDAN COMPANY Direct Labor Budget Jan Feb e Textbook and Media