23. In a bottom-up approach to budgeting, the primary source of information used in setting the budget is A) based on forecasted economic conditions. B) based on industry forecasts. C) provided by the controller. D) provided by lower-level managers. 24. Johnson Company's sales are 20% cash and 80% credit. Of the credit sales, 60% are collected in the month of sale and 30% in the month following the sale. The balance is collected during the following month. Budgeted sales data is as follows: Kow much is total Accounts Receivable at the end of August? A) $224,400 B) $89,600 C) $137,000 D) $109,600 25. Which of the following steps is not involved in the ABC approach? A) Identify activities that eause costs to be incurred. B) Allocate costs to products based on activity usage. C) Group costs of activities into cost pools. D) Improve processes based on benchmarking