Question 3 View Policies Current Attempt in Progress 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. Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour January February March April May 10,400 11,500 8,000 8,400 8,100 $50.80 $48.20 $48.20 $48.20 $48.20 2.0 2.0 1.5 1.5 1.5 $7.00 $7.00 $7.00 $8.00 $8.00 Lowell has a labor contract that calls for a wage increase to $8.00 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 18,450 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. Prepare a production budget for Lowell Company by month and for the first quarter of the year. LOWELL COMPANY Production Budget Jan Feb Tol e Textbook and Media 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, s. 52.7) LOWELL COMPANY Direct Labor Budget Jan Feb Total e Textbook and Media