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Lily Company makes and sells artistic frames for pictures. The controller is responsible for preparing...

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Accounting

Lily 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.
Lily has a labor contract that calls for a wage increase to $8.0 per hour on April 1. New labor-saving machinery has been installed and
will be fully operational by March 1.
Lily expects to begin the year with 14,784 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.
(a)
Prepare a production budget for Lily Company by month and for the first quarter of the year.
LIIY COMPANY
Production Budget
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