5 of 5 < > View Policies Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $274,000 $37,200 February 244,200 38,100 March 261,800 40,200 -/3 E Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, antt 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March. NIETO COMPANY Expected Collections from Customers March Question 5 of 5 < NIETO COMPANY Expected Collections from Customers Total collections $ March $ (b) Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials Question 5 of 5 (b) Prepare a schedule of expected payments for direct materials for March. Total payments NIETO COMPANY Expected Payments for Direct Materials eTextbook and Media Save for Later $ March $ I Attempts: 0 of 5