Business, 19.05.2020 20:13, Jaylen52709

Blue Company’s budgeted sales and direct materials purchases are as follows.

Budgeted Sales Budgeted D. M. Purchases
January $256,500 $32,700
February 277,200 37,500
March 297,900 51,500

Blue’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. Blue’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
b. Prepare a schedule of expected payments for direct materials for March.

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Blue Company’s budgeted sales and direct materials purchases are as follows.

Budgeted Sa...