Question 4 View Policies Current Attempt in Progress Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January February $239,200 220,500 255,600 $32,800 48,300 March 52,200 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. Prepare a schedule of expected collections from customers for March. (Round answers to decimal places, s. 2,500) NIETO COMPANY Expected Collections from Customers 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. Prepare a schedule of expected collections from customers for March. (Round answers to decimal places, s. 2,500) NIETO COMPANY Expected Collections from Customers Total collections LLIUI (b) Prepare a schedule of expected payments for direct materials for March. (Round answers to decimal places, eg. 2,500.) NIETO COMPANY Expected Payments for Direct Materials March Total payments