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. March April May January February 10,300 11,400 8,200 8,100 8,700 $50.80 $48.20 $48.20 $48.20 $48.20 Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour 2.1 2.1 17 1.7 1.7 $8 $8 $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 17, 140 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 60% of the second following month's sales. LOWELL COMPANY Production Budget For the Quarter Ending March 31, 2020 Jan Feb Expected Unit Sales 10300 11400 Add Desired Ending Finished Goods Unit 16320 13060 Total Required Units 26620 24460 Less Beginning Finished Goods Unit -17140 -16320 Required Production Units 9480 8140 LOWELL COMPANY Production Budget For the Quarter Ending March 31, 2020 Jan Feb Mar Total 10300 11400 8200 16320 13060 13320 26620 24460 21520 -17140 - 16320 13060 9480 8140 8460 26080 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 $ $ $ > $ $ 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 Total $ $ $ $ $ $ $ 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 Beginning Materials Inventory Total Direct Labor Cost Units to be produced Total Required Direct Labor Hours Total Pounds Required for Production Direct Materials Purchases Direct Labor Cost Per Hour Cost Per Pound Total Materials Required Direct Labor Time (Hours) Per Unit Direct Materials Per Unit Desired Ending Inventory Total Cost of Direct Materials Purchases $ $ $ $ $ $