Concord Company expects to have a cash balance of $50,400 on January 1, 2022 Relevant monthly budget data for the first 2 month of 2022 are as follows Collections from customers January $95,200, February $168,000. Payments for direct materials January $56.000, February $84.000 Direct labor January $33.600, February $50,400. Wages are paid in the month they are incurred Manufacturing overhead: January $23520. February $28.000. These costs include depreciation of $1,680 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $16.000. February $22,400 These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $13,440 in cash. Concord Company has a line of credit at a local bank that enables it to borrow up to $28.000. The company wants to maintain a minimum monthly cash balance of $22,400 Prepare a cash budget for January and February CONCORD COMPANY Cash Budget January Feb $ > > > > > > > >