Problem 13-4 (Part Level Submission) Riverbed Company prepares monthly cash budgets, Relevant data from operating budget for 2017 nos foi January $372,240 124,080 Sales Direct materials purchases Direct labor Manufacturing overhead Selling and administrative expenses February 413.000 129,250 103.400 77,550 72,380 81.686 All sales are on account Collections are expected to be 50% in the month of sale in the month second month following the sale. Sixty percent (60%) of direct material purchases are din cash in the month of th due is paid in the month following the purchase. All other items above are the month incred expenses that include $1,034 of depreciation per month and e Other data 1. 2. 3. Credit sales: November 2016, 5258,500; December 2016, $330,880 Purchases of direct materials: December 2016, $103.400 Other receipts: January lection of December 31, 2016, de $15,510 4. Other disbursements: February Payment of 56,204 h dividend CALCULATOR PRINTER VERSION BACK NEX All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,034 of depreciation per month Other data: 1. 2. 3. Credit sales: November 2016, $258,500; December 2016, $330,880. Purchases of direct materials: December 2016, $103,400. Other receipts: January-Collection of December 31, 2016, notes receivable $15,510; February-Proceeds from sale of securities $6,204 Other disbursements: February--Payment of $6,204 cash dividend. 4. The company's cash balance on January 1, 2017, is expected to be $62,040. The company wants to maintain a minimum cash balance of $51,700 Your an Prepare a cash budget for January and February in columnar form. (Do not leave any answer field blank. Enter o fo RIVERBED COMPANY Cash Budget For the Two Months Ending February 28, 2017 January February CALCULATOR PRINTE Kimmel, Survey of Accounting, le Help System Announcements CALCULATOR PRINTER VERSION SAC