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Coronado Company expects to have a cash balance of $53,100 on January 1,2022. Relevant monthly budget data for the first 2 months of 2022 are

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Coronado Company expects to have a cash balance of $53,100 on January 1,2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $100,300, February $177,000. Payments for direct materials: January $59,000, February $88,500 Direct labor: Janoary $35,400, February $53,100. Wages are pald in the month they are incurred. Manulacturine overhead: January $24,780, February $29,500. These costs include depreciation of $1,770 per month, All other overhead costs are pald as incurred. Seling and administrative exerses: January $17,700. February $23,600. These costs are exclusive of depreciation. They are naid as incurred. Sales of marketable securitles in January are expected to realize $14,160 in cash. Coronado Compamy has a line of credit at a local bank that enables it to borrow up to $29,500. The company wants to maintain a minimum monthly cash balance of $23,600. Prepare a cash budget for January and February

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