Exercise 24-14 Danner Company expects to have a cash balance of $51,300 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows Collections from customers: January $96.900, February $171,000. Payments for direct materials: January $57,000. February 185,500 Direct labort January $34,200, February $51,300. Wages are paid in the month they are incurred. Manufacturing overhead: January $23,940, February $28,500. These costs include depreciation of $1,710 per month. All other overhead costs we paid as incurred. Selling and administrative expenses: January $17,100, February $22,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $13,680 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $20,500. The company Prepare a cash budget for January and February DANNER COMPANY Cash Budget January February $ >>>> Type here to search o 1 of $51,300 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows bruary 5171,000 February 185,500 Wages are pad in the month they are incurred. Gary 528,500. These costs include depreciation of $1,710 per month. All other overhead costs are pedas incurred. 7.100, February $22.800. These costs are exclusive of depreciation. They are paid as curred ected to realize $13,600 in cath. Danner Company has a line of credit at local bank that enables it to borrow up to $20,500. The company wants to maintain a minimum monty cash balance 132.000. DANNER COMPANY Cash Budget January February $ $ > RI , Selling and administrative expenses: January 517,100, February $22,800. These costs are exclusive of depreciation. They Sales of marketable securities in January are expected to realize $13,680 in cash. Danner Company has a line of credit at Prepare a cash budget for January and February DANNER COMPANY Cash Budget January February > > > Click if you would like to show Work for this question: Doen Show Work upe here to search 0