Exercise 21-17 Your answer is partially correct. Try again Nieto Company's budgeted sales and direct materials purchases are as follows Budgeted D.M Purchases Budgeted Sales January February $279,900 287,600 332,000 $39,500 44,100 40,600 March Niet 's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sa 50%, in the month oil ing sale, an in the second sale; 4% are uncollectible. Nieto s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the mort of purchase and 50% following purchase. ant ollowing nte month Prepare a schedule of expected payments for direct materials for March. (Round answers to O decimal places, e.g. 2,50o.) NIETO COMPANY Expected Payments for Direct Materials March Payment of March credit purchases Payment of February credit purchases March cash purchases Total payments