Danner Company expects to have a cash balance of $53,550 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $101,150, February $178,500. Payments for direct materials January $59,500, February $89,250. Direct labor: January $35,700. February $53,550. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,990. February $29.750. These costs include depreciation of $1.785 per month. All other overhead costs are paid as incurred: Selling and administrative expenses: January $17,850, February $23,800. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $14,280 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $29,750. The company wants to maintain a minimum monthly cash balance of $23,800. Prepare a cash budget for January and February. Cash Budget January Februa 5 $ Total Disbursements Beginning Cash Balance Borrowings Excess (Deficiency) of Available Cash Over Cash Disbursements Sale of Marketable Securities Total Available Cash Total Receipts Selling and Administrative Expenses Repayments Direct Materials Direct Labor Disbursements Ending Cash Balance Financing Collections from Customers Receipts Manufacturing Overhead DANNER COMPANY Cash Budget January February