Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $273.400 $30,300 February 242.200 37,600 March 344,100 46,500 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 0 decimal places, e.g. 2,500.) NIETO COMPANY Expected Collections from Customers March March cash sales $ 103230 Collection of March credit sales Collection of January credit sales Collection of February credit sales DO 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 Payment of March credit purchases $ Payment of February credit purchases 11280 March cash purchases Total payments $ 43830