Create a Cash budget

Exercise 13-14 Ayayai Company expects to have a cash balance of $60,435 on January 1, 2017, Relevant monthly budget data for the first 2 months of 2017 are as follows Collections from customers: January $114,155, February $201,450. Payments for direct materials: January $67,150, February $100,725 Direct labor: January 40,290, February 60,435. wages are paid in the month they are incurred Manufacturing overhead: January $28,203, February $33,575. These costs include depreciation of $2,014 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $20,145, February $26,860. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $16,116 in cash. Ayayai Company has a line of credit at a local bank that enables it to borrow up to $33,575. The company wants to maintain a minimum monthly cash balance of $26,860 Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter 0 for amounts.)