prepare a cash budget for january and february.

Project Description:

danner company expects to have a cash balance of $49,358 on january 1, 2014. relevant monthly budget data for the first 2 months of 2014 are as follows.

collections from customers: january $91,205, february $160,950.
payments for direct materials: january $53,650, february $75,110.
direct labor: january $32,190, february $48,285. wages are paid in the month they are incurred.
manufacturing overhead: january $22,533, february $26,825. these costs include depreciation of $1,073 per month. all other overhead costs are paid as incurred.
selling and administrative expenses: january $16,095, february $21,460. these costs are exclusive of depreciation. they are paid as incurred.

sales of marketable securities in january are expected to realize $10,730 in cash. danner company has a line of credit at a local bank that enables it to borrow up to $26,825. the company wants to maintain a minimum monthly cash balance of $21,460.

prepare a cash budget for january and february.
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