0220-17-4eea-83e7-C85c3aa100c2/quest Question 8 of 8 -/12 View Policies Current Attempt in Progress Blossom Company expects to have a cash balance of $36,000 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $68,000, February $120,000. Payments for direct materials: January $40,000, February $60.000. Direct labor: January $24,000, February $36,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $16,800. February $20,000. These costs include depreciation of $1.200 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $12,000, February $16,000. These costs are exclusive of depreciation. They are paie as incurred. Sales of marketable securities in January are expected to realize 59,600 in cash. Blossom Company has a line of credit at a local ba that enables it to borrow up to $20,000. The company wants to maintain a minimum monthly cash balance of $16,000. Prepare a cash budget for January and February BLOSSOM COMPANY Cash Budget -/12 Question 8 os BLOSSOM COMPANY Cash Budget January Teba 5 V in 30 CAL pesc P10 3 5 6 7 8 F R u C