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Nieto Companys budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $237,400 $36,500 February 251,400 39,800 March 336,600 41,500

Nieto Companys budgeted sales and direct materials purchases are as follows.

Budgeted Sales

Budgeted D.M. Purchases

January $237,400 $36,500
February 251,400 39,800
March 336,600 41,500

Nietos 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. Nietos 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.)

(b) Prepare a schedule of expected payments for direct materials for March. (Round answers to 0 decimal places, e.g. 2,500.)

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