Question 12 of 15 View Policies Current Attempt in Progress Waterway Company expects to have a cash balance of $45.900 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows Collections from customers: January $86.700, February $153,000. Payments for direct materials: January $51,000, February $76,500. Direct labor January $30,600, February $45,900 Wages are paid in the month they are incurred Manufacturing overhead: January $21,420, February $25,500. These costs include depreciation of $1.530 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,300, February $20,400. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $12.240 in cash Waterway Company has a line of credit at a local bank that enables it to borrow up to $25.500. The company wants to maintain a minimum monthly cash balance of $20,400 Prepare a cash budget for January and February WATERWAY COMPANY Cash Budget January Februa