Exercise 21-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January February March $266,200 227,700 310,800 $39,000 39,000 43,500 Nieto'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. Nieto'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. (Round answers to decimal places.. 2,500.) NIETO COMPANY Expected Collections from Customers CALCULATOR F Total collections (b) Prepare a schedule of expected payments for direct materials for March. (Round answers to o decimal places, e.g. 2,500.) NIETO COMPANY Expected Payments for Direct Materials March Total payments