Crane Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales January $252,000 $37,800 February 277,200 44,900 March 315,000 48,800 Crane'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. Crane'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. Prepare a schedule of expected collections from customers for March. CRANE COMPANY Expected Collections from Customers March $ Total collections $ (b) Prepare a schedule of expected payments for direct materials for March. CRANE COMPANY Expected Payments for Direct Materials March $ Total payments $