III Question 6 of 9 - / 18 View Policies Current Attempt in Progress Nunez Company expects to have a cash balance of $44,000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: Collections from customers: January $100,000; February $156,000 2. Payments to suppliers: January $60,000; February $82,000 Direct labour: January $30,000: February $47.000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $26,000; February $29.000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $16,000; February $20,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $11.000 in cash. 1. 3. 5. 6. Nunez Company has a line of credit at a local bank. It can borrow up to $24,000. The company wants to keep a minimum monthly cash balance of $24,000. Prepare a cash budget for January and February NUNEZ COMPANY Cash Budeet E Ch 10: Homework Assignment Question 6 of 9 - / 18 NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb Total $ $ $