Sunland Company expects to have a cash balance of $54,000 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows Collections from customers: January $102,000. February $180,000. Payments for direct materials: January $60,000, February $90,000. Direct labor: January $36,000. February 554.000. Wages are paid in the month they are incurred. Manufacturing overhead January $25,200, February $30.000. These costs include depreciation of 51.800 per month. All other overhead costs are paid as incurred Selling and administrative expenses. January $18,000, February $24,000. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $14.400 in cash. Sunland Company has a line of credit at a local bank that enables it to borrow up to $30,000 The company wants to maintain a minimum monthly cash balance of $24,000 Prepare a cash budget for January and February SUNLAND COMPANY Cash Budget January February SUNLAND COMPANY Cash Budget January February $ . . |