Exercise 9-14 (Video) Your answer is partially correct. Try again, Danner Company expects to have a cash balance of $49,500 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 Collections from customers: January 593,500, February $165,000 Payments for direct materials: January $55,000, February $82,500 Direct labor: January $33,000, February $49,500. Wages are pad in the month they are curred Manufacturing overhead: January 23,100, February $27,500. These costs include depreciation of $1,450 per month. All other ends werd Selling and administrative expenses: January $16.500, February 22,000. These cos e exclusive of depreciation. They are incurred. Sales of marketable securities in January are expected to realize $13,200 inch Dorner Company has a line of credit a local bank has to borrow up to 127.00. The company wants to mantana minimum monthly cash balance of $22,000. Prepare a cash budget for January and February DANNER COMPANY Cash Budget For the Two Months Ending February 28, 2020 Beginning Cash Balance January February 93,500 Add 165,000. Receipts Collections from Customers 55,000 Sale of Marketable Securities 82,500 33,000, Total Receipts 49,500. 23,100 Total Available Cash 21,450 16,500 Disbursements 22.000 Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Total Disbursements S and Windows Total Receipts 25, TOU Total Available Cash 21,450 Less 16,500 Disbursements 22,000 Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Excess (Deficiency) of Available Cash Over Cash Disbursements Financing Add Borrowings Less Repayments Ending Cash Balance Click if you would like to Show Work for this question: Open Show Work Windows