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

		Budgeted Sales		Budgeted D.M. Purchases
January		$273,000		$30,300
February		242,200		37,600
March		344,100		46,500

Pharoahs 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. Pharoahs 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. PHAROAH COMPANY Expected Collections from Customers March $ $ Total collections $ ta (b) Prepare a schedule of expected payments for direct materials for March. PHAROAH COMPANY Expected Payments for Direct Materials March $