More info In any given month, 20% of the total sales are cash sales, while the remainder are credit sales. The company's collection history indicates that 60% of credit sales is collected in the month after the sale, 30% is collected two months after the sale, 5% is collected three months after the sale, and the remaining 5% is never collected Assurne that the total cost of direct materials purchases in December was $500,000. The company pays 40% of its direct materials purchases in the month of purchase, and pays the remaining 60% in the month after purchase. Review the direct materials budget prepared in Requirement 3 . For the Quarter Ended March 31 Cash sales in current month Collections on credit sales: 60% of credit sales made one month ago 30% of credit sales made two months ago 5% of credit sales made three months ago Total cash collections Production Budget For the Quarter Ended March 31 Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce More info In any given month, 20% of the total sales are cash sales, while the remainder are credit sales. The company's collection history indicates that 60% of credit sales is collected in the month after the sale, 30% is collected two months after the sale, 5% is collected three months after the sale, and the remaining 5% is never collected Assurne that the total cost of direct materials purchases in December was $500,000. The company pays 40% of its direct materials purchases in the month of purchase, and pays the remaining 60% in the month after purchase. Review the direct materials budget prepared in Requirement 3 . For the Quarter Ended March 31 Cash sales in current month Collections on credit sales: 60% of credit sales made one month ago 30% of credit sales made two months ago 5% of credit sales made three months ago Total cash collections Production Budget For the Quarter Ended March 31 Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce