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Can you please fill in the tables. thank you. NIU Company's budgeted sales and direct materials purchases are as follows: January February March Budgeted Sales
Can you please fill in the tables. thank you.
NIU Company's budgeted sales and direct materials purchases are as follows: January February March Budgeted Sales $205,000 219.000 295.000 Budgeted Direct Materials Purchases $31.000 39,000 44,000 NIU's sales are 40% cash and 60% credit. It collects credit sales 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale: 4% are uncollectible. NIU's purchases are 50% cash and 50% on account. It pays purchases on account 60% in the month of purchase, and 40% in the month following purchase. Prepare a schedule of expected collections from customers for March NIU COMPANY Schedule of Expected Collections from Customers For the Month Ending March 31, 2020 $ January-credit sales February-credit sales March-cash sales March-credit sales $ Total expected collections from customers Prepare a schedule of expected payments for direct materials for March. NIU COMPANY Schedule of Expected Payments for Direct Materials For the Month Ending March 31, 2020 $ February-credit payments March-cash payments March-credit payments $ Total expected paymentsStep by Step Solution
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