Moorcroft Company's budgeted sales and direct materials purchases are as follows: Budgeted Sales Budgeted D.M.Purchases $47,000 49,000 62,000 April$301,000 May June 301,000 397,000 Moorcroft's sales are 40% cash and 60% credit. Credit sales are collected 20% in the month ot sale, SOS in the month foll ing sale, and 26% in the second month followi are 50% cash and SO% on account purchases on account are paid 40% n the month follo the purchase and 60% in the second month following the purchase. in ng sale; 4% are uncollectible. Moorcroft's purchases Prepare a schedule of expected payments for direct materials for June. Moorcroft Company Schedule of Expected Payment for Direct Materials April May June 301000 301000 $ 397000 301000 April May June Total Collections