Bonita Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $180,000 $27,000 February 32,400 198,000 225,000 March 34,200 Bonita'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. Bonita's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase. (a) Prepare a schedule of expected collections from customers for March BONITA COMPANY Schedule of Expected Collectlois from Customers March $ Total collections $ (b) Prepare a schedule of expected payments for direct materials for March. BONITA COMPANY Schedule of Expected Payments for Direct Materials March $ Total payments $