Danner Company expects to have a cash balance of $ 53,100 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $ 100,300, February $177,000. Payments for direct materials: January $ 59,000, February $ 88,500. Direct labor: January $ 35,400, February $53,100. Wages are paid in the month they are incurred. Manufacturing overhead: January $ 24,780, February $ 29,500. These costs include depreciation of $ 1,770 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $ 17,700, February $ 23,600. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $ 14,160 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $ 29,500. The company wants to maintain a minimum monthly cash balance of $ 23,600. Prepare a cash budget for January and February. DANNER COMPANY Cash Budget