Danner Company expects to have a cash balance of $45,450 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $85,850, February $151,500. Payments for direct materials: January $50,500, February $75,750. Direct labor: January $30,300, February $45,450. Wages are paid in the month they are incurred. Manufacturing overhead: January $21,210, February $25,250. These costs include depreciation of $1,515 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,150, February $20,200. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $12,120 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $25,250. The company wants to maintain a minimum monthly cash balance of $20,200. Prepare a cash budget for January and February. DANNER COMPANY Cash Budget January February Beginning Cash Balance Add : Receipts Collections from Customers Sale of Marketable Securities Total Available Cash Disbursements DANNER COMPANY Cash Budget January February Beginning Cash Balance Add : Receipts Collections from Customers Sale of Marketable Securities Total Available Cash Disbursements Less : Repayments Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Total Available Cash Excess (Deficiency of Available Cash Over Cash Disbursements Add : Borrowings Less : Ending Cash Balance e Textbook and Media