Nieto Company's budgeted sales and direct materials purchases are as follows. January February March Budgeted Sales Budgeted D.M. Purchases $39,000 41,600 46,200 (a) $202,000 246,800 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. 309,100 Total collections Prepare a schedule of expected collections from customers for March. NIETO COMPANY Expected Collections from Customers $ $ March (b) Prepare a schedule of expected payments for direct materials for March. NIETO COMPANY Expected Payments for Direct Materials Total payments > > LA $ $ March Prepare a schedule of expected collections from customers for March. NIETO COMPANY Expected Collections from Customers Collection of February credit sales Payment of February credit purchases March cash purchases January cash sales Payment of March credit purchases February cash sales March cash sales Collection of January credit sales Collection of March credit sales $ $ March