Beginning Cash Balance Add : Receipts Collections from Customers BONITA COMPANY Cash Budget For the Two...

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Beginning Cash Balance Add : Receipts Collections from Customers BONITA COMPANY Cash Budget For the Two Months Ending February 28, 2022 January Febru Your answer is partially correct. Bonita Company expects to have a cash balance of $40,500 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $76,500, February $135,000. Payments for direct materials: January $45,000, February $67,500. Direct labor: January $27,000, February $40,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $18,900, February $22,500. These costs include depreciation of $1,350 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $13,500, February $18,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $10,800 in cash. Bonita Company has a line of credit at a local bank that enables it to borrow up to $22,500. The company wants to maintain a minimum monthly cash balance of $18,000. Prepare a cash budget for January and February. Mi +A Beginning Cash Balance Add : Receipts Collections from Customers BONITA COMPANY Cash Budget For the Two Months Ending February 28, 2022 January Febru Your answer is partially correct. Bonita Company expects to have a cash balance of $40,500 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $76,500, February $135,000. Payments for direct materials: January $45,000, February $67,500. Direct labor: January $27,000, February $40,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $18,900, February $22,500. These costs include depreciation of $1,350 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $13,500, February $18,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $10,800 in cash. Bonita Company has a line of credit at a local bank that enables it to borrow up to $22,500. The company wants to maintain a minimum monthly cash balance of $18,000. Prepare a cash budget for January and February. Mi +A