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Blossom Company expects to have a cash balance of $45,900 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022

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Blossom Company expects to have a cash balance of $45,900 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $86.700, February $153,000. Payments for direct materials: January $51.000. February $76,500. Direct labor: January $30,600. February $45.900. Wages are paid in the month they are incurred. Manufacturing overhead: January $21.420. February $25,500. These costs include depreciation of $1,530 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,300, February $20,400. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $12.240 in cash. Blossom Company has a line of credit at a local bank that enables it to borrow up to $25,500. The company wants to maintain a minimum monthly cash balance of $20,400, Prepare a cash budget for January and February BLOSSOM COMPANY Cash Budget January Februar $ 1 1 1 > $

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