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Swifty Company expects to have a cash balance of $36,900 on January 1,2022. Relevant monthly...

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Accounting

Swifty Company expects to have a cash balance of $36,900 on January 1,2022. Relevant monthly budget data for the first 2 months of 2022 are as follows.
Collections from customers: January $69,700, February $123,000.
Payments for direct materials: January $41,000, February $61,500.
Direct labor: January $24,600, February $36,900. Wages are paid in the month they are incurred.
Manufacturing overhead: January $17,220, February $20,500. These costs include depreciation of $1,230 per month. All other overhead costs are paid as incurred.
Selling and administrative expenses: January $12,300, February $16,400. These costs are exclusive of depreciation. They are paid as incurred.
Sales of marketable securities in January are expected to realize $9,840 in cash. Swifty Company has a line of credit at a local bank that enables it to borrow up to $20,500. The company wants to maintain a minimum monthly cash balance of $16,400.
Prepare a cash budget for January and Eebruary.
January
Februa
$
$
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