* 83% 6:56 PM PKINTER VERSION Exercise 20-14 Your answer is partialy correct. Try agar. Danner Company expects to have a cash balance of $47,840 on January 1, 2012. Relevant monthly budget data for the as follows 1, 2012. Relevant monthly budget data for the first 2 months of 2012 are Collections from customers: January $88,400, February $156,000 Payments for direct materials: January $52,000, February $72,800 Direct labor: January $31,200, February $46,800. Wages are paid in the month they are incurred. Manufacturing overhead: January $21,840, February $26,000. These costs include depreciation of $1,040 per costs include depreciation of $1,040 per month, All other overhead costs ane paid as incurred Selling and administrative expenses: January $15,600, February $20,800. These costs are exdusive of depreciation. They are peid as incurred. Sales of marketable securibies in January are expected to realize $10,400 in cash. Danner Company has a line of credit at a local bank thet enables t to borrow up to $26,000. The company wants to m maintain a minimum monthly cash balance of $20,800, Prepare a cash budget for January and February Cash Redget Fer the Twe Moaths Ending Febraary 29, 2012 27040 10400 belkin