Exercise 21-14 Your answer is partially correct. Try again. Danner Company expects to have a cash balance of $58,050 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $109,650, February $193,500 Payments for direct materials: January s64,500, February $96,750 Direct labor: January $38,700, February $58,050. Wages are paid in the month they are incurred Manufacturing overhead: January $27,090, February $32,250. These costs include depreciaton of S1,935 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January19,350. February S25,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in january are expected o realize $15 4 in cash. Danner ompany has a line of credit at a ocal bank that enables it to borrow to S3 250 e company wants to maintain a minimum monthly cash balance of $25,800. Prepare a cash budget for January and February. (Do not leave any answer field biank. Enter 0 for amounts. DANNER COMPANY Cash Budget For the Two Months Ending February 28, 2017 January February Beginning Cash Balance Add Receipts Collections from Customers Sale of Marketable Securities Total Receipts Total Avallable Cash Less . Disbursements Direct Materia ls Direct Labor Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Excess (Dericiency) of Available Cash Over Cash Disbursements Financing Add Borrowings Less Repayments Ending Cash Balance