Hagen company's budgeted sales and direct materials purchases are as follows. budgeted salesbudgeted d. m. purchasesjanuary$300,000$60,000febr uary330,00070,000march350,00080,000 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 accountare paid 40% in the month of purchase, and 60% in the month following purchase. instructions(a)prepare a schedule of expected collections from customers for march.(b)prepare a schedule of expected payments for direct materials for march