Yogi has $15,000 in cash on hand on January 1 and has collected the following budget data: (. ETS (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 Yogi has cash payments for selling and administrative expenses including salaries of $80,0 month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the neares Will Yogi need to borrow cash by the end of February? nearest whole olar) - X Data table Yogi Company Cash Budget Two Months Ended January 31 and February 28 January February January Sales S 525,000 S 568,000 Beginning cash balance Cash receipts from customers 442,500 502.400 Cash receipts 442,500 Cash payments for direct materials purchases 180,856 160.892 Direct labor costs Cash available 134.750 112,922 Manufacturing overhead costs (includes depreciation of Cash payments $1.200 per month) 55,132 53.232 Purchases of direct matonals Direct labor Manufacturing overhead Print Done olan ol Yogi has $15,000 in cash on hand on January 1 and has collected the fol B3 (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in month plus commissions that are 2% of sales, all paid in the month of sale Will Yogi need to borrow cash by the end of February? Yogi Company Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance Cash receipts 442,500 Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Yogi has $15,000 in cash on hand on January 1 and has collected to (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are pa month plus commissions that are 2% of sales, all paid in the month Will Yogi need to borrow cash by the end of February? 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 Total effects of financing Ending cash balance Hitionally, assume Yogi has cash payments for selling and administrative expenses including salaries of s a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the Data table Sales January February $ 525,000 $ 568,000 442,500 502,400 Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,200 per month) 180,856 160,892 134,750 112,922 55,132 53,232