Bridgeport Company expects to have a cash balance of $44,800 on January 1, 2022. Bridgeport has budgeted the following for the first two months of the year 2022: 1 Collections from customers: January $90,000: February $110,100. 2 Payments to suppliers: January $40,300; February $49.700. 3. 4. 5. 6. Direct labour: January $29.800; February $35,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,900; February $29,800. Overhead costs are paid as incurred. Selling and administrative expenses: January $16,100: February $21,800. These costs do not include depreciation and they are paid as incurred. Sales of investments in January are expected to realize $10,000 in cash. Bridgeport Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed. Prepare a cash budget for January and February. BRIDGEPORT COMPANY Cash Budget For 2022 January February I