tae the tolloving information for questions 25 -27 Farley Company reported the tollowing into rmation for Year 1: November 0,000 120,000 128,000 r December $270, 000 144,000 October Budgeted sales Budgeted purchases $230,000$220.0 A11 sales are on credit .Customer amounts on account are collected 50t in the month of sale and 501 in the following month. Cost of goods sold is 35t of sales. Farley purchases and pay for merchandise 60% in the month of acquisition and 40t in the following month. Accounta payable is used only for inventory acquisitions. 25. How much cash will Farley receive during November? $110,000 b. 245,000 C. $225,000 d. $220,000 26. How much is the budgeted balance for Accounts Payable at October 31, Year 12 a. S 48,000 72,000 $102,000 d. 51,200 27. How much is the November 30, Year 1 budgeted Accounts Receivable? a. $110,000 b $115,000 C. $220,000 $225, 000 28. What is budgetary control? Another name for a flexible budget The degree to which the CFO controls the budget The use of budgets in controlling operations a. The process of providing information on budget differences t level managers