Question 13 of 15 View Policies Current Attempt in Progress Swifty Company's budgeted sales and direct materials purchases are as follows Budgeted Sales Budgeted D.M. Purchases January $216.000 $32.400 February 237,600 March 270,000 38,880 41,040 4 -/1 E Swifty'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. Swifty'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 SWIFTY COMPANY Schedule of Expected Collections from Customers Total collections > March (b) Prepare a schedule of expected payments for direct materials for March SWIFTY COMPANY Schedule of Expected Payments for Direct Materials