Problem 21-4A (Part Level Submission) Coker Company prepares monthly cash budguts. Relevant data from operating budget for 2014 are: Januan February $413,000 $472,000 Direct materials purchase 129,800 153400 Direct labor 106,200 118.000 Marrafacturing virhead 82,600 88,500 Selling and administrative experts 93,220 101,480 All sales are on account. Collections are expected to be 50% in the month of sal, 20% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct material purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include 51,180 of depreciation per month. Other data: 1. Credit sales: November 2013, $306,800: December 2013, $377,600. 2. Purchases of direct materials: December 2013, 5118,000. 3. Other receipts: January-Collection of December 31, 2013, notas receivable $17,700; February--Proceeds from sale of securi $7,080. Other disbursements: February-Payment of $5,000 cash dividend. The company's cash balance on January 1, 2014, is expeded to be $70,000. The company wants to maintain a minimum cash balance of $50,000. Prepare schedules for (1) expected collections from customers and (2) expeded payments for direct materials purses for January and February Expected Collections from Customers Jan February November December January February Total collections Expected Payments for Direct Materials ELE December lang February Total payments