Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,300 per month) January February $ 532,000 $ 567,000 442,100 503,000 180,965 160,892 135,360 112,626 55,714 53,124 Yordi has $15,500 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 Yordi has cash payments for selling and administrative expenses including salaries of $70,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $5,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yordi need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Yordi Company Cash Budget Two Months Ended January 31 and February 28 January February Beginning cash balance 15500 Cash receipts 442,100 503,000 Cash available 457600 Cash payments: Purchases of direct materials 180,965 160,892 Direct labor 135,360 112,626 Manufacturing overhead 54414 51824 180,965 135,360 160,892 112,626 54414 51824 60200 63700 430939 389042 5000 5000 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 Ending cash balance 0 0 Will Yordi need to borrow cash by the end of February? Yordi will not need to borrow cash by the end of February because the ending cash balance before financing is greater than the minimum cash balance required