Hagen Company’s budgeted sales and direct materials purchase are as follows. Budgeted Sales Budgeted D.M. Purchases January $300000 $60000 February 330000 70000 March 350000 80000 Hagen’s sales are...

Hagen Company’s budgeted sales and direct materials purchase are as follows.

Hagen’s sales are 40% cash and 60% 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. Hagen’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchases, and 60% in the month following purchases.

Prepare a schedule of expected payments for direct materials for March.