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 10,400 $50.90 2.2 $8 Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour February 11,000 $48.10 2.2 $8 March 8,700 $48.10 1.6 $8 April 8,000 $48.10 1.6 $9 May 8,500 $48.10 1.6 $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 14,800 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. Your answer is partially 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 Expected Unit Sales 10400 11000 Add : Desired Ending Finished Goods Unit 14480 11900 Total Required Units 24880 22900 Less : Beginning Finished Goods Unit 14800 14480 Required Production Units 10080 8420 e Textbook and Media X Your answer is incorrect. Prepare a direct labor budget for Lowell 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.) LOWELL COMPANY Direct Labor Budget Jan Feb Mar Tot $ e Textbook and Media