Wildhorse Company expects to have a cash balance of $58,500 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $110,500, February $195,000. Payments for direct materials: January $65,000, February $97,500. Direct labor: January $39,000, February $58,500. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,300. February $32,500. These costs include depreciation of $1.950 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $19,500. February $26,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize 515,600 in cash. Wildhorse Company has a line of credit at a local bank that enables it to borrow up to $32,500. The company wants to maintain a minimum monthly cash balance of $26,000 Prepare a cash budget for January and February JIL Securities in January are expected to realize $15,600 in cash. Wildhorse Company has a line of credit at a local that enables it to borrow up to $32,500. The company wants to maintain a minimum monthly cash balance of $26,000 are a cash budget for January and February WILDHORSE COMPANY Cash Budget For the Two Months Ending February 28, 2022 January Febru eginning Cash Balance 58500 dd V Receipts ollections from Customers 110500 15600 Sale of Marketable Securities 126100 Total Receipts 184600 otal Available cash O E Type here to search