Danner Company expects to have a cash balance of $48,465 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows.

Collections from customers: January $91,545, February $161,550.

Payments for direct materials: January $53,850, February $80,775.

Direct labor: January $32,310, February $48,465. Wages are paid in the month they are incurred.

Manufacturing overhead: January $22,617, February $26,925. These costs include depreciation of $1,615 per month. All other overhead costs are paid as incurred.

Selling and administrative expenses: January $16,155, February $21,540. These costs are exclusive of depreciation. They are paid as incurred.

Sales of marketable securities in January are expected to realize $12,924 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $26,925. The company wants to maintain a minimum monthly cash balance of $21,540. Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter 0 for amounts.)

DANNER COMPANY Cash Budget January Februa $ $ > >