EXERCISE 3.2 2 Cellphones approximately month. 1. Study the information below and answer the questions that follow: The Mombasa family earns a total of R14 000 They have the following expenses every month: Bond repayment Furniture repayments Insurance per R4 800 R 800 R 550 R 600 School fees R 660 2 Water and electricity R 980 Groceries between R1 900 and R2 500 Monthly transport Entertainment 2 Clothes a) Draw up a budget for one month for the family. incorne b) Indicate which expenses are fixed and which expenses are variable. c) Does the Mombasa family have a surplus or a deficit? R500 R400 R350