Required information [The following information applies to the questions displayed below] Spiffy Shades Corporation manufactures artistic frames for sunglasses. Talia Demarest, controller, is responsible for preparing the company's master budget. In compiling the budget data for \\( 20 \\times 1 \\). Demarest has learned that new automated production equipment will be installed on March 1. This will reduce the direct labor per frame from 4.0 hours to 3.75 hours. Labor-related costs include pension contributions of \\( \\$ 0.80 \\) per hour, workers' compensation insurance of \\( \\$ 0.50 \\) per hout. employee medical insurance of \\( \\$ 2 \\) per hour, and employer contributions to Social Security equal to 4.00 percent of directlabor wages. The cost of employee benefits paid by the company on its employees is treated as a direct-labor cost. Spiffy Shades Corporation has a labor contract that calls for a wage increase to \\( \\$ 18.00 \\) per hour on April 1,20x1. Management expects to have 17,600 frames on hand at December \\( 31,20 \\times 0 \\), and has a policy of carrying an end-of-month inventory of 100 percent of the following month's sales plus 40 percent of the second following month's sales. These and other data compiled by Demarest are summarized in the following table. equired: Prepare a production budget and a direct-labor budget for Spiffy Shades Corporation by month and for the first quarter of \\( 20 \\times 1 \\). round \"Direct-labor hours per unit\" to 2 decimal places.) Required: 1. Prepare a production budget and a direct-labor budget for Spiffy Shades Corporation by month and for the first quarter of \\( 20 \\times 1 \\). (Round \"Direct-labor hours per unit\" to \\( \\mathbf{2} \\) decimal places.) 3. Prepare a production overhead budget for each month and for the first quarter