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Current Attempt in Progress Sunland Company expects to have a cash balance of 542,300 on January 1. 2022. Relevant monthly budget data for the frst
Current Attempt in Progress Sunland Company expects to have a cash balance of 542,300 on January 1. 2022. Relevant monthly budget data for the frst 2 months of 2022 are as follows. Collections from customers: January $79,900, February $141,000. Payments for direct materials: January $47,000, February $70.500. Direct labor: January $28,200. February $42,300. Wages are paid in the month they are incurred. Manufacturing overhead: January $19,740. February $23,500. These costs include depreciation of $1.410 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $14,100. February $18,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $11.280 in cash. Sunland Company has a line of credit at a local bank that enables it to borrow up to $23,500. The company wants to maintain a minimum monthly cash balance of $18,800. Using multiple attempts will impact your score 15% score reduction after atternpt 3
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