Sheridan Company expects to have a cash balance of $51,300 on January 1, 2022 Relevant monthly budget data for the first 2 months of 2022 are as follows Collections from customers January $96,900, February $171,000 Payments for direct materials January $57,000, February $85,500 Direct labor January $34,200, February $51,300 Wages are paid in the month they are incurred Manufacturing overhead January $23,940, February $28,500 These costs include depreciation of $1,710 per month All other overhead costs are paid as incurred Selling and administrative expenses January $17,100, February $22,800 These costs are exclusive of depreciation They are paid as incurred Sales of marketable securities in January are expected to realize $13,680 in cash Sheridan Company has a line of credit at a local bank that enables it to borrow up to $28,500 The company wants to maintain a minimum monthly cash balance of $22,800 Prepare a cash budget for January and February Sheridan Company expects to have a cash balance of $51,300 on January 1, 2022 Relevant monthly budget data for the first 2 months of 2022 are as follows Collections from customers January $96,900, February $171,000 Payments for direct materials January $57,000, February $85,500 Direct labor January $34,200, February $51,300 Wages are paid in the month they are incurred Manufacturing overhead January $23,940, February $28,500 These costs include depreciation of $1,710 per month All other overhead costs are paid as incurred Selling and administrative expenses January $17,100, February $22,800 These costs are exclusive of depreciation They are paid as incurred Sales of marketable securities in January are expected to realize $13,680 in cash Sheridan Company has a line of credit at a local bank that enables it to borrow up to $28,500 The company wants to maintain a minimum monthly cash balance of $22,800 Prepare a cash budget for January and February SHERIDAN COMPANY Cash Budget January Februz

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Sheridan Company expects to have a cash balance of $51,300 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022

Sheridan Company expects to have a cash balance of $51,300 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows.

Collections from customers: January $96,900, February $171,000.

Payments for direct materials: January $57,000, February $85,500.

Direct labor: January $34,200, February $51,300. Wages are paid in the month they are incurred.

Manufacturing overhead: January $23,940, February $28,500. These costs include depreciation of $1,710 per month. All other overhead costs are paid as incurred.

Selling and administrative expenses: January $17,100, February $22,800. These costs are exclusive of depreciation. They are paid as incurred.

Sales of marketable securities in January are expected to realize $13,680 in cash. Sheridan Company has a line of credit at a local bank that enables it to borrow up to $28,500. The company wants to maintain a minimum monthly cash balance of $22,800. Prepare a cash budget for January and February. image text in transcribed

Sheridan Company expects to have a cash balance of $51,300 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $96,900, February $171,000. Payments for direct materials: January $57,000, February $85,500. Direct labor: January $34,200, February $51,300. Wages are paid in the month they are incurred. Manufacturing overhead: January $23,940, February $28,500. These costs include depreciation of $1,710 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $17,100, February $22,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $13,680 in cash. Sheridan Company has a line of credit at a local bank that enables it to borrow up to $28,500. The company wants to maintain a minimum monthly cash balance of $22,800. Prepare a cash budget for January and February SHERIDAN COMPANY Cash Budget January Februz