Vaughn Company's budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $196,000 $29,400 February 215,600 March 245,000 35,280 37,240 Vaughn'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. Vaughn'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. VAUGHN COMPANY Schedule of Expected Collections from Customers $ Total collections $ March (b) Prepare a schedule of expected payments for direct materials for March. VAUGHN COMPANY Schedule of Expected Payments for Direct Materials $ $ Total payments March