Martin Company expects to have a cash balance of $137.300 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows: . . . Collections from customers: January $246,300, February $427,500 Payments for direct materials: January $156,700, February $234,000 Direct labor: January $90,900, February $134,400. Wages are paid in the month they are incurred. Manufacturing overhead: January $62,200, February $75,200. These costs include depreciation of $5,000 per month. All other overhead costs are paid as incurred, Selling and administrative expenses: January $44,800, February $59.100. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $35,800 in cash. Martin Company has a line of credit at the local bank that enables it to borrow up to $73,500. The company wants to maintain a minimum monthly cash balance of $58,800 Cash Budget For the Months Ending February 2020 January February Beginning Cash Balance 137300 $ Add :: Receipts Collections from Customers 246300 Sale of Securities 35800 Total Receipts 282100 Total Available Cash 419400 Less Disbursements Direct Materials 156700 Direct Labor 90900 Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Excess (Deficiency) of Available Cash over Cash Disbursements Financing Add : Borrowings Less : Repayments Including Interest Ending Cash Balance $