Points: 0 of 1 Save Yandell has $15,000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yandell has cash payments for selling and administrative expenses including salaries of $60,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $5,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yandell need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) in by und all Data table January February Sales $533,000 $ 567,000 eginning Cash receipts from customers Cash payments for direct materials purchases 442,600 502,200 180,526 160,284 ash rec Direct labor costs 134,870 113,192 Cash ava Manufacturing overhead costs (includes depreciation of $1,000 per month) 55,876 53,452 Cash pay Purch Direct Print Done Manu Sellin Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) X "0" for a The company requires a minimum cash balance of $5,000. Prepare a cash budget for Ja Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete a Yandell Company Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance Cash receipts Cash available Cash payments Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financing Ending cash balance modocs example