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Coronado Company expects to have a cash balance of $53,100 on January 1,2022 . Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $100,300, February $177,000. Payments for direct materials: January $59,000, February $88,500. Direct labor: January $35,400, February $53,100. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,780. February $29,500. These costs include depreciation of $1,770 per month, All other overhead costs are paid as incurred. Selling and administrative expenses: January $17,700, February $23,600. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $14,160 in cash Coronado Company has a line of credit at a local bank that enables it to borrow up to $29,500. The company wants to maintain a minimum monthly cash balance of $23,600. Prepare a cash budget for January and February. Question 6 of 10 11 CORONADO COMPANY Cash Budget For the Two Months Ending February 28; 2022 Beginning CashBalance $ January Februar Add : Receipts Collections from Customers Sale of Marketable Securities Total Avallable Cash Repayments Less Direct Labor Manutacturing Overhead Selling and Administrative Expenses Direct Labor Manufacturing Overhead Selling and Administrative Expenses Ending Cash Balance

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