Bonita Company expects to have a cash balance of $$40,500$ on January $1,2022.$ Relevant monthly budget data for the first $2$ months of

$2022$ are as follows.

Collections from customers: January $$76,500,$ February $$135,000.$

Payments for direct materials: January $$45,000,$ February $$67,500.$

Direct labor: January $$27,000,$ February $$40,500.$ Wages are paid in the month they are incurred.

Manufacturing overhead: January $$18,900,$ February $$22,500.$ These costs include depreciation of $$1,350$ per month. All other

overhead costs are paid as incurred.

Selling and administrative expenses: January $$13,500,$ February $$18,000.$ These costs are exclusive of depreciation. They are paid as

incurred.

Sales of marketable securities in January are expected to realize $$10,800$ in cash. Bonita Company has a line of credit at a local bank

that enables it to borrow up to $$22,500.$ The company wants to maintain a minimum monthly cash balance of $$18,000.$

Prepare a cash budget for January and February.