Wildhorse Company expects to have a cash balance of $134,500 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows: Collections from customers: January $243,600, February $438,700. Payments for direct materials: January $153,000, February $246,500 Direct labor: January $90,200, February $132,400. Wages are paid in the month they are incurred. Manufacturing overhead: January $63,200, February $74,000. These costs include depreciation of $4,900 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $44,500, February $59,400. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $36,200 in cash. Wildhorse Company has a line of credit at the local bank that enables it to borrow up to $74,900. The company wants to maintain a minimum monthly cash balance of $59,400. Prepare a cash budget for January and February. Beginning Cash Balance Add Receipts Collections from Customers Sale of Securities Total Receipts Total Available Cash Less Disbursements Direct Materials Wildhorse Company Cash Budget For the Months Ending February 2020 Manufacturing Overhead Selling and Administrative Expenses Total Disbursements Excess (Deficiency) of Available Cash over Cash Disbursements Financing Add Borrowings Less Repayments Including Interest Ending Cash Balance January February 134,500 $ 243,600 $ $ 438,700