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 February March Apri May Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour 11,000 11,600 8,900 8,500 8,400 $50.50 $48.40 $48.40 $48.40 $48.40 2.2 $8 2.2 $8 1.7 $8$9$9 Lowell has a labor contract that calls for a wage increase to $9 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Lowell expects to begin the year with 19.120 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 70% of the second following month's sales. Your answer is correct. Prepare a production budget for Lowell Company by month and for the first quarter of the year. LOWELL COMPANY Production Budget For the Quarter Ending March 31,2020 Jan Feb Mar Total Expected Unit Sales Add | | Desired Ending Finished Goods Unit Total Required Units Less$| | Beginning Finished Goods Unit Required Production Units 11000 11600 8900 17830 14850 14380 28830 26450 23280 19120 17830 14850 9710 8620 8430 26760 X Your answer is incorrect. Prepare a direct labor budget for Lowell Company by month and for the first quarter of the ye ar. The direct labor budget should include direct labor hours(R ound Direct labor hours per unit answers to 1 decimal place, es 52.7) LOWELL COMPANY Direct Labor Budget Jan Feb Mar Total