What Was All That One in a Million Talk, Inc. is a manufacturer master budget: cross country mopeds. The following information was prepared as part of the Month Sales Direct Materials Purchases March $165,000 $136,000 April $178,000 $154,000 May $166,000 $160,000 QUESTION 1: All sales are made on account. Collections are usually as follows: 60% in the month of sale and 38% in the month following the month of sale. The remaining 2% is deemed uncollectible. What are the company's projected receipts from customers in May? $162,680 $166,740 $163,440 $169,880 $167,240 QUESTION 2: All direct material purchases are made on account and paid as follows: 40% in the month of purchase and 60% in the month following the month of purchase. What are the company's projected payments to suppliers in May? $157,000 $160,320 $156,400 $157,600 $173,200