View Policies Current Attempt in Progress Danner Company expects to have a cash balance of $47.880 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows. Collections from customers: January $90,440, February $159,600. Payments for direct materials: January $53,200, February $79,800. Direct labor: January $31.920. February $47,880. Wages are paid in the month they are incurred. Manufacturing overhead: January $22,344, February $26,600. These costs include depreciation of $1,596 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,960, February $21,280. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $12,768 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $26,600. The company wants to maintain a minimum monthly cash balance of $21,280. Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter for amounts.) DANNER COMPANY Cash Budget For the Two Months Ending February 28, 2017 January $ 62865 Februar Beginning Cash Balance $ Add : Collections from Customers Sale of Marketable Securities 118745 Manufacturing Overhead Repayments Excess (Deficiency of Available Cash Over Cash Disbursements Total Disbursements Borrowings Ending Cash Balance Selling and Administrative Expenses Receipts Direct Labor Financing Beginning Cash Balance Sale of Marketable Securities Disbursements Total Receipts Collections from Customers Direct Materials Total Available Cash