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Data Table January February Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,200
Data Table January February Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,200 per month) $530,000 $565,000 502,000 160,538 112,754 442,800 180,278 135,360 55,876 53,452 Print Done Yancey has $10,000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yancey has cash payments for selling and administrative expenses including salaries o $50,000 per month plus commissions hat are 2% of sales, a paid in e month of sal The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yancey need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input boxes. Enter a "O" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Yancey Company Cash Budget Two Months Ended January 31 and February 28 January February Beginning cash balance Cash receipts Cash available Cash payments Purchases of direct materials Direct labor Manufacturing overhead
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