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 2022. Lowell has a labor contract that calls for a wage increase to $9.0 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 17,600 frames on hand and has a policy of carrying an end - of-month ifventory of 100% of the following month's sales, plus 40% of the second following month's sales. Prepare a production budzet for I muaf ramanw.s. include direct labor hours. (Round Direct labor hours per unit answers to 1 decimal the or the year. The direct labor budget should include direct labor hours. (Round Direct labor hours per unit answers to 1 decimal place, e. . 52.7.)