Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yem has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yem 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) Yem Company Cash Budget Two Months Ended January 31 and February 28 January February Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Yem has $12,500 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 Yem has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yem need to borrow cash by the end of February? 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 Yem has $12,500 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 Yem has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yem need to borrow cash by the end of February? Ending cash balance before fiOnancing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of Dfinancing Ending cash balance Will Yem need to borrow cash by the end of February? Yem need to borrow cash by the end of February because the ending cash balance before financing is than the minimum cash balance required. Enter any number in the edit fields and then continue to the next question. (Click on the icon to view the budget data. expenses including salaries of $55,00 -X Juary. Round to the nearest dollar. Will Assume direct labor costs and manufacturing overhead costs commissions that are 1% of sales, all paid in the month of sale. cash by the end of February? Ending cash balance before financing Data Table Minimum cash balance desired Sales Projected cash excess (deficiency) Financing Borrowing Principal repayments Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,900 per month) January February $ 532,000 $ 570,000 442,700 502,500 180,624 160,752 134,870 113,238 Total effects of Ofinancing 55,876 53,452 Ending cash balance Will Yem need to borrow cash by the end of February? Print Done Yem need to borrow cash by the end of February bedroom my w OTOTOU VOTO TITOTTIE CITI CITU TIITTI con LTCITTC Tour . Yem has $12,500 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 Yem has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yem need to borrow cash by the end of February? Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of Ofinancing Ending cash balance Will Yem need to borrow cash by the end of February? Yem need to borrow cash by the end of February because the ending cash balance before financing is V than the minimum cash balance required Enter any number in the edit fields and then continue to the next question 2