Sunland Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows.

		January		February
Sales		$ 417,600		$ 464,000
Direct materials purchases		139,200		145,000
Direct labor		104,400		116,000
Manufacturing overhead		81,200		87,000
Selling and administrative expenses		91,640		98,600

All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $ 1,160 of depreciation per month. Other data:

1.		Credit sales: November 2021, $ 290,000; December 2021, $ 371,200.
2.		Purchases of direct materials: December 2021, $ 116,000.
3.		Other receipts: JanuaryCollection of December 31, 2021, notes receivable $ 17,400; FebruaryProceeds from sale of securities $ 6,960.
4.		Other disbursements: FebruaryPayment of $ 6,960 cash dividend.

The companys cash balance on January 1, 2022, is expected to be $ 69,600. The company wants to maintain a minimum cash balance of $ 58,000.

(a)

Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February.

Expected Collections from Customers
		January		February
November		$		$
December
January
February
Total collections		$		$

Expected Payments for Direct Materials
		January		February
December		$		$
January
February
Total payments		$		$

Prepare a cash budget for January and February in columnar form.

SUNLAND COMPANY Cash Budget choose the accounting period For the Two Months Ending February 28, 2022February 28, 2022For the Quarter Ending February 28, 2022
		January		February
select an opening cash budget item		$ enter a dollar amount		$ enter a dollar amount
select between addition and deduction AddLess:
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item Excess		enter a dollar amount		enter a dollar amount
select a closing name		enter a total amount for section one		enter a total amount for section one
select a summarizing line for the first part		enter a total amount for the first part		enter a total amount for the first part
select between addition and deduction AddLess:
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item		enter a dollar amount		enter a dollar amount
select a cash budget item		enter a dollar amount		enter a dollar amount
select a closing name for section two		enter a total amount for section two		enter a total amount for section two
select a summarizing line for the second part		enter a total amount for the second part		enter a total amount for the second part
select an opening name for section three
select between addition and deduction AddLess:		enter a dollar amount		enter a dollar amount
select between addition and deduction AddLess:		enter a dollar amount		enter a dollar amount
select a closing cash budget item Collections from CustomersTotal ReceiptsBorrowingsExcess (Deficiency)		$ enter a total amount for the cash budget		$ enter a total amount for the cash budget