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 2017 January February March April May 10,500 11,800 8,400 8.000 8.200 $ 47.40 $ 47,40 $ 47.40 $ 47.40 Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour $50.60 2.2 $9.00 2.2 1.5 1.5 1.5 $ 9.00 $9.00 $ 10.00 $10.00 Lowell has a labor contract that calls for a wage increase to $10.00 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 17.580 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. Prepare a production budget for Lowell Company by month and for the first quarter of the year. LOWELL COMPANY Production Budget For the Year Ending March 31, 2017 Jan Feb Sales in Units 10500 11800 Add Desired Ending Inventory Total Materials Required 16840 13200 Less Beginning Inventory 17580 16840 Required Production Units 9760 8160 set ell Company by month and for the first quarter of the year. LOWELL COMPANY Production Budget For the Year Ending March 31, 2017 Jan Feb Mar Total 10500 11800 8400 8200 16840 13200 12920 17580 16840 13200 9760 8160 8120 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, eg. 52.7.) LOWELL COMPANY Direct Labor Budget Jan Feb Ma $ $ $ $ $ $ S LOWELL COMPANY Direct Labor Budget Jan Feb Mar Total $ $ $ $ $ $ $