Cullumber Company's budgeted sales and direct materials purchases are as follows. January February March Budgeted Sales $255.000 220,900 326,000 Budgeted D.M. Purchases $39,100 46,100 48,500 Cullumber'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. Cullumber'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. CULLUMBER COMPANY Expected Collections from Customers March IL. LUNMD 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. CULLUMBER COMPANY Expected Collections from Customers March Total collections $ (b) Prepare a schedule of expected payments for direct materials for March. CULLUMBER COMPANY Expected Payments for Direct Materials March $ Total payments $