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

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Accounting

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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 2020 January February March April May Estimated unit sales Sales price per unit Direct labor hours per unit Wage per direct labor hour 10,700 50.30 2.4 11,300 $48.10 2.4 8,600 $48.10 1.5 8,200 $48.10 1.5 8,200 $48.10 1.5 Lowell has a labor contract that calls for a wage increase to $9 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 18,610 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 70% of the second following month's sales

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