Swifty Company expects to have a cash balance of $36,900 on January 1,2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $69,700, February $123,000. Payments for direct materials: January $41,000, February $61,500. Direct labor: January $24,600, February $36,900. Wages are paid in the month they are incurred. Manufacturing overhead: January $17,220, February $20,500. These costs include depreciation of $1,230 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $12,300. February $16,400. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $9,840 in cash. Swifty Company has a line of credit at a local bank that enables it to borrow up to $20,500. The company wants to maintain a minimum monthly cash balance of $16,400. Prepare a cash budget for January and February. SWIFTY COMPANY Cash Budget