Question 2 Cullumber 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. February March January April May Estimated unit sales 10,300 11,600 9,000 8,300 8,000 Sales price per unit $50.30 $48.70 $48.70 $48.70 $48.70 Direct labor hours per unit 2.3 2.3 1.6 1.6 1.6 Wage per direct labor hour $8 $8 $8 $9 $9 Cullumber 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 Cullumber expects to begin the year with 16,100 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 50% of the second following month's sales. (a) Prepare a production budget for Cullumber Company by month and for the first quarter of the year CULLUMBER COMPANY Production Budget For the Year Ending March 31, 2020 Jan Feb Mar Total 11,600 Expected Unit Sales 10,300 9000 Desired Ending Finished Goods Unit 16100 13150 12300 Add 24750 21300 Total Required Units 26400 Beginning Finished Goods Unit Less Required Prod uction Units Open Show Work Click if you would like to Show Work for this