Waterway 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. Waterway 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. Waterway expects to begin the year with 22,528 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. WATERWAY COMPANY Production Budget For the Quarter Ending March 31, 2022 Sales in Units 415360Jan17920Feb Add : Desired Ending Inventory Total Needs Total Needs WATERWAY COMPANY Production Budget For the Quarter Ending March 31, 2022