$403,200 $448,000 140,000 100,800 112,000 84,000 88,480 95,200 134,400 Direct labor overhead 78,400 ct on are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty other items above are ulei a on htt int Co percent 60% of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. A paid in the month incurred except for selling and administrative expenses that include $1,120 of depreciation per month 1. Credit sales: November 2016, $280,000: December 2016, $358,400 . Other receipts: January-Collection of December 31, 2016, notes receivable $16,800; 4. Other disbursements: February-Payment of $6,728 cash dividend The company's cash balance on January 1, 2017, is expected to be $67,200. The company wants to maintain a minimum cash balance of $56,000 of direct materials: December 2016, $112,000. from sale of securities $6,720. for (1) expected collections from customers and (2) expcted payments for direct materials purchases for January and February. s Prepare for (1) expected from customers and (2) expected payments for direct materials purchases for January and February Expected Collections from Customers Total collections January Total payments s Prepare a cash budget for January and February in columnar form. (Do not leave any answer field blank. Enter O for amounts.) MONTY COMPANY Cash Budget February