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 2027. Sheffield has a labor contract that calls for a wage increase to $7.00 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. SHEFFIELD COMPANY Production Budget Production Budget Jan Feb Mar Total