oriole company's budgeted sales and direct materials purchases are as follows. Oriole Company's budgeted sales and direct materials purchases are as follows.

Oriole'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. Oriole'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. $($a$)$

Prepare a schedule of expected collections from customers for March.

ORIOLE COMPANY

Schedule of Expected Collections from Customers

March

$

Total collections

$ $($b$)$

Prepare a schedule of expected payments for direct materials for March.

ORIOLE COMPANY

Schedule of Expected Payments for Direct Materials

March

$

Total payments

$

$=$