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Yandell has $15,000 in cash on hand on January 1 and has collected the following budget data. (Click on the icon to view the budget

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Yandell has $15,000 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 Yandell has cash payments for selling and administrative expenses including salaries of $40,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $15,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yandell 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 boxes Enter a 'U' for any zero balances Round all amounts entered into the cash budget to the nearest whole dollar) Yandell 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 Direct labor Manufacturing overhead Selling and administrative expenses Enter any number in the edit felds and then continue to the next question Wil Yandell need to borrow cash by the end of February? Yandell will not need to borrow cash by the end of February because the ending cash balance before financing is greater than the minimum cash balance required Enter any number in the edit fields and then continue to the next question all palu lue TNT UT Sale. Te cumpally requires all hum cash balance of $15,000. Prepare a cash budget for 457100 180191 Cash available Cash payments Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses 160892 112444 135220 53814 51224 Total cash payments Ending cash balance before financing (15000) (15000) Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financing Ending cash balance Enter any number in the edit fields and then continue to the next question. month incurred. Additionally, assume Yandell has cash payments for selling and administrative expenses includings of $15,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yandell need to borre Data Table In February Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,900 per month) January 526,000 442,100 180,191 135,220 564,000 502,200 160,892 112,444 (150 55,714 53,124 Print Done

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