Sheffield Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2022. January February March April May Estimated unit sales 12,000 14,000 13,000 11,000 11,000 Unit selling price $60 $57.5 $57.5 $57.5 $57.5 Direct labor hours per unit 2.0 2.0 1.5 1.5 1.5 Direct labor cost per hour $6.0 $6.0 $6.0 $7.0 $7.0 Sheffield has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Sheffield expects to begin the year with 17,600 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales. Prepare a production budget for Sheffield Company by month and for the first quarter of the year. SHEFFIELD COMPANY Production Budget Jan Feb M v : v: