Danner Company expects to have a cash balance of $S2,650 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January 599,450, February $175.500. Payments for direct materials: January $58,500. February 587.750. Direct labor: January $35.100. February $52.650. Wages are paid in the month they are incurred. Manufacturing overhead: January $24.570. February $29.250. These costs include depreciation of $1,755 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $1750, February 23,400. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $14,940 in cash. Danner Company has Line of credit at a local bank that enables it to borrow up to $29.250. The company wants to maintain a minimum monthly cash balance of $23,400 Prepare a cash budget for January and February DANNER COMPANY Cash Budget January Febn 5 January Feb Que Que Que Que Que a Que Que Vie Qu Qu 5 nb