C Search Textbook Solutions om + Question 3 of 4 -/3 E View Policies Current Attempt in Progress Nunez Company expects to have a cash balance of $45.000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: 1. 2. 3. 4. Collections from customers: January $102.000; February $162,000 Payments to suppliers: January $59.000 February $79,000 Direct labour: January $29.000 February $46,000 Wages are paid in the month they are incurred. Manufacturing overhead: January $25,000; February $31.000 These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $17.000: February $20,000. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $9.000 in cash. 5. 6. Nunez Company has a line of credit at a local bank it can borrow up to $25,000. The company wants to keep a minimum monthly cash balance of $27.000 Prepare a cash budget for January and February NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 -/3 Prepare a cash budget for January and February NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb 24C Sunny Ad 1 D Question 3 of 4