Question 5 of 5 -/7 iii Current Attempt in Progress Wildhorse Company expects to have a cash balance of $58,500 on January 1, 2022. Relevant monthly budget data for the first2 months of 2022 are as follows. Collections from customers: January $110,500, February $195,000 Payments for direct materials: January $65,000, February $97,500. Direct labor: January $39,000, February $58,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $27.300, February $32,500. These costs include depreciation of $1,950 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $19.500, February $26.000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $15,000 in cash. Wildhorse Company has a line of credit at a local bank that enables it to borrow up to $32,500. The company wants to maintain a minimum monthly cash balance of $26,000 Prepare a cash budget for January and February WILDHORSE COMPANY Cash Budget January Februa $ Question 5 of 5 -17 E WILD HORSE COMPANY Cash Budget January Februa v V Question 5 of 5 -17 E WILDHORSE COMPANY Cash Budget January February $ $ $