Danner Company expects to have a cash balance of $49,950 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $94,350, February $166,500 Payments for direct materials: January $55,500, February $83,250. Direct labor: January $33,300, February $49,950. Wages are paid in the month they are incurred. Manufacturing overhead: January $23,310, February $27,750. These costs include depreciation of $1,665 per month. All other overhead costs are pa as incurred. Selling and administrative expenses: January $16,650, February $22,200. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $13,320 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $27,750. The company wants to maintain a minimum monthly cash balance of $22,200. DANNER COMPANY Cash Budget January February