Question 3 --/1 View Policies Current Attempt in Progress Marigold Company expects to have a cash balance of $58,185 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $109,905, February $193,950. Payments for direct materials: January $64,650, February $96,975. Direct labor: January $38,790, February $58,185. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,153, February $32,325. These costs include depreciation of $1,939 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $19,395, February $25,860. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $15,516 in cash. Marigold Company has a line of credit at a local bank that enables it to borrow up to $32,325. The company wants to maintain a minimum monthly cash balance of $25,860. Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter for amounts.) MARIGOLD COMPANY Cash Budget January February