Moorcroft Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M. Purchases April $295,000 $44,000 May 294,000 52,000 June 355,000 61,000 Moorcroft's sales are 40% cash and 60% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 26% in the second month following sale; 4% are uncollectible. Moorcroft's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month following the purchase and 60% in the second month following the purchase (a) (b) Prepare a schedule of expected payments for direct materials for June. Moorcroft Company Schedule of Expected Payment for Direct Materials tions Purchases April June May