CraneCompany's budgeted sales and direct materials purchases are as follows.

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.

Crane Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Bu:::::sl;M. January $237,000 $36,500 February 251,400 39,800 March 336,600 41,500 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. (2) Prepare a schedule of expected collections from customers for March. CRANE COMPANY Expected Collections from Customers March Total collections 5 lb) Prepare a schedule of expected payments for direct materials for March. CRANE COMPANY Expected Payments for Direct Materials March Total payments 55