Danner Company expects to have a cash balance of $62,955 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows:

Exercise 23-14 Danner Company expects to have a cash balance of $62,955 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows: Collections from customers: January $118,915, February $209,850 Payments for direct materials: January $69,950, February $104,925 Direct labor: January $41,970, February $62,955. Wages are paid in the month they are incurred Manufacturing overhead: January $29,379, February $34,975. These costs include depreciation of $2,098 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $20,985, February $27,980. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $16,788 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $34,975. The company wants to maintain a minimum monthly cash balance of $27,980 Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter "o" for amounts.) DANNER COMPANY Cash Budget