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kksavage36
06.05.2021 •
Business
Danner Company expects to have a cash balance of $49,950 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows.
Collections from customers: January $94,350, February $166,500.
Payments for direct materials: January $55,500, February $83,250.
Direct labor: January $33,300, February $49,950. Wages are paid in the month they are incurred.
Manufacturing overhead: January $23,310, February $27,750. These costs include depreciation of $1,665 per month. All other overhead costs are paid as incurred.
Selling and administrative expenses: January $16,650, February $22,200. These costs are exclusive of depreciation. They are paid as incurred.
Sales of marketable securities in January are expected to realize $13,320 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $27,750. The company wants to maintain a minimum monthly cash balance of $22,200.
Prepare a cash budget for January and February.
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Ответ:
increase their income
Explanation: