1. Johnsons sales for October, November and December were $68760, $65760 and $72544 respectively. If Johnsons sell 70% of their products on an account and they expect 60% of the customers to pay in the following month after sale, what will they receive in the month of November.

b) What cash will be received if 20% of Johnsons customers pay by credit card in November and there is a 3% fee attached

c) Assume Johnsons purchase their products at 40% of their sales price and they order these one month before they are sold. If Johnsons pay 60% of their purchases within 30 days what cash will be required to be paid in December.

d) What is the difference between a static budget and a flexible budget?