S22-11 (similar to) :s Question Help Yosko has $14,000 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 Yosko has cash payments for selling and administrative expenses including salaries of $40,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $10,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yosko need to borrow cash by the end of February? January Beginning cash balance Cash receipts Cash available Data Table Sales 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 Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $900 per month) January February $ 534,000 $ 567,000 442,500 502,200 180,344 160,366 134,870 112,922 55,366 53,348 Print Done Ending cash balance