4 of 5 < View Policies Current Attempt in Progress -/3 E Danner Company expects to have a cash balance of $49,050 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $92,650, February $163,500. Payments for direct materials: January $54,500, February $81,750. Direct labor: January $32,700, February $49,050. Wages are paid in the month they are incurred. Manufacturing overhead: January $22,890, February $27,250. These costs include depreciation of $1,635 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $16,350, February $21,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $13,080 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $27,250. The company wants to maintain a minimum monthly cash balance of $21,800. Prepare a cash budget for January and February. DANNER COMPANY Cash Budget Question 4 of 5 DANNER COMPANY Cash Budget January $ -/3 E February Question 4 of 5 -/3 E $