Question 15 of 20 -17.5 Sheffield Company expects to have a cash balance of $56.700 on January 1.2022. Relevant monthly budget data for the first 2 months of 2022 are as follows Collections from customers January $107.100 February $189,000 Payments for direct materials: January $63,000 February $94,500 Direct labor: January $37,800 February $56.700 Wages are paid in the month they are incurred Manufacturing overhead: January $26,460, February $31.500. These costs include depreciation of $1.390 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $18,900, February $25.200 These costs are exclusive of depreciation. They are paid as Sales of marketable securities in January are expected to realize $15.120 in cash Sheffield Company has a line of credit at a local bank that enables it to borrow up to $31,500. The company wants to maintain a minimum monthly cash balance of $25.200 Prepare a cash budget for January and February Foxtbook and Media SHEFFIELD COMPANY Cash Budget V January 5 $ Febru