Umes, Ine 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 10,200 $50.00 2.0 $8.00 February 11,700 $48.20 2.0 $8.00 March 8,600 $48.20 1.7 $8.00 April 8,100 $48.20 May 8.200 $48.20 1.7 $9.00 1.7 $9.00 Lowell has a labor contract that calls for a wage increase to $9.00 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 14,880 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 Lowell Company by month and for the first quarter of the year. LOWELL COMPANY LOWELL COMPANY Production Budget Jan Feb Production Budget Jan Feb Mar Total e Textbook and Media