Blue 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. Blue 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 0 for amounts.)

BLUE COMPANY Cash Budget For the Two Months Ending February 28, 2017 January February Beginning Cash Balance Add . Receipts Collections from Customers Sale of Marketable Securities Total Receipts Total Available Cash Less . Disbursements Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Excess (Deficiency) of Available Cash Over Cash Disbursements Financing Add . Borrowings Less . Repayments Ending Cash Balance