nciples of Accounting Il Section 01W-Linn omework: Chapter 22 Assignment Sa HW Score: 65.86% , 40.18 of 61 17 of 20 (18 complete) re: 1.41 of 5 pts Question Help S22-11 (similar to) eaman has $14.500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Ssume drect labor costs and manufacturing overhead costs are paid in the month incured. Additionally, assume Yeaman has cash payments for selling and administrative expenses including salaries of $70,000 per month plus commissions that are 1% of sales, al paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February Round to the nearest dolar Wil Yeaman need to borrow cash by the end of February? February January Data Table 14.500 Beginning cash balance 443.000 Cash receipts 457,500 Cash avalable February January Cash payments: 532.000 $ 562000 Sales 179.848 Purchases of drect materials 502.000 443.000 Cash receipts from oustomers 135,360 Direct labor 160,366 179,848 Cash payments for direct materials purchases 54,014 Manufacturing overhead 112.532 135.360 Direct labor costs 75,320 Seling and administrative expenses Manufacturing overhead oosts inoludes depreciaton 444.542 Total cash payments 53.878 55714 of $1,700 per month) 12.958 Ending cash balance before firancing (1,000) Mnimum cash balance desired Done Print Enter any rumber in the edit fields and then cick Check Arswer, Check Answe Clear All 1 part remaining Teaman has $14,500 in cash on hand on January 1 and has collected the following budget data (Click on the icon to view the budget data.) Assume drect labor costs and manufacturing overhead costs are paid in the month inoumed. Additionaly, assume Yeaman has cash payments for seling and administrative expenses including salaries of $70,000 per month plus commissions that are 1% of sales al paid in the month of sale The company requires a minimum cash balance of $1.000 Prepare a cash budget for January and February Round to the nearest dolar Wll Yeaman need to bomow cash by the end of February? Direct labor 135.360 Manufacturing overhead 54,014 Data Table Selling and adninistrative expenses 75,320 444 542 Total cash rts 12.958 February January Ending cash balance bafore financing 532 000 562 000 (1,000) Sales Meimum cash balance desred 502 000 Cash receips rom customers 443000 Projected cash excess (deficiency) 11.950 17948 100.360 Cash payments for direct malerials purchases Financing 135 360 112.532 Direct labor costs Bomowing Marufacturing overhead coss ndludes depreciaton Precpal repayments 53878 55.714 of $1,700 per month) 0 Total effects of financing 12 958 Ending cash balance Pint Done Enter any number in the edit felds and then click Check