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 2017. unit sales 10,500 11,700 8,400 8,900 9,000sales price per unit $50.10 $47.10 $47.10 $47.10 $47.10direct labor hours per unit 2.1 2.1 1.5 1.5 1.5wage per direct labor hour $9.00 $9.00 $9.00 $10.00 $10.00lowell has a labor contract that calls for a wage increase to $10.00 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 18,690 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. a.)prepare a production budget for lowell company by month and for the first quarter of the year. lowell company production budget for the quarter ending march 31, 2017 jan feb mar total sales in units 10500 11700 8400 30600 add desired ending inventory required production units less beginning inventory required production unitsb.)prepare a direct labor budget for lowell company by month and for the first quarter of the year. the direct labor budget should include direct labor hours.