Exercise 21-14 Your answer is partially correct. Try again. Danner Company expects to have a cash balance of $58,410 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows Collections from customers: January $110,330, February $194,700. Payments for direct materials: January $64,900, February $97,350. Direct labor: January $38,940, February $58,410. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,258, February $32,450. These costs include depreciation of $1,947 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $19,470, February $25,960. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $15,576 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $32,450. The company wants to maintain a minimum monthly cash balance of $25,960 Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter 0 for amounts.) DANNER COMPANY Cash Budget January February 58410 35695 Beginning Cash Balance Add Receipts Collections from Customers 110330 194700 Sale of Marketable Securities 15576 0 Total Receipts