Oriole Company expects to have a cash balance of $39,600 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows.

Collections from customers: January $74,800, February $132,000.

Payments for direct materials: January $44,000, February $66,000.

Direct labor: January $26,400, February $39,600. Wages are paid in the month they are incurred.

Manufacturing overhead: January $18,480, February $22,000. These costs include depreciation of $1,320 per month. All other overhead costs are paid as incurred.

Selling and administrative expenses: January $13,200, February $17,600. These costs are exclusive of depreciation. They are paid as incurred.

Sales of marketable securities in January are expected to realize $10,560 in cash. Oriole Company has a line of credit at a local bank that enables it to borrow up to $22,000. The company wants to maintain a minimum monthly cash balance of $17,600. Prepare a cash budget for January and February.

Question 4 of 5 -/7 View Policies Current Attempt in Progress Oriole Company expects to have a cash balance of $39,600 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $74,800, February $132,000. Payments for direct materials: January $44,000, February $66,000. Direct labor: January $26,400, February $39,600. Wages are paid in the month they are incurred. Manufacturing overhead: January $18,480, February $22,000. These costs include depreciation of $1,320 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $13,200, February $17,600. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $10,560 in cash. Oriole Company has a line of credit at a local bank that enables it to borrow up to $22,000. The company wants to maintain a minimum monthly cash balance of $17,600. Prepare a cash budget for January and February ORIOLE COMPANY Cash Budget For the Two Months Ending February 28, 2022 January Febr Beginning Cash Balance $ Add : Receipts Collections from Customers Total Receipts that enables it to borrow up to $22,000. The company wants to maintain a minimum monthly cash balance of $17,600. Prepare a cash budget for January and February. ORIOLE COMPANY Cash Budget For the Two Months Ending February 28, 2022 January Beginning Cash Balance Add : Receipts Collections from Customers Total Receipts Total Available Cash Selling and Administrative Expenses >