All of Saint Corporation's sales are on account. 25% of the sales on account are collected in the month of sale, 45% in the month following sale, and 30% are collected in the second month following sale. The following are budgeted sales data for the company: Januarv \$70.000: Februarv \$60.000: March \$80.000: April \$60.000: Mav \$55,000. What is the amount of cash that should be collected in March? $24,000$32,500$68,000$80,000 Baker Corporation has budgeted production for next year as follows: Production in units Four pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 4,000 pounds. The raw materials inventory at the end of each quarter should equal 10% of the next quarter's production needs. Budgeted purchases of raw materials in the third quarter would be