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2. Describe the difference between Static Budget and Flexible Budget? Why do we need to prepare the same? 3. Calculate the second quarter cash collections from sales for a company that expects to have credit sales of $200,000 in quarter 1 and $300,000 in Quarter 2 and collects 75% in quarter of sales and the remaining 25% in the following quarter. 4. Calculate the required production for a company that expects to sell 8,000 units in quarter 4, and has a desired ending inventory of 1,000 units of finished goods and an opening inventory of 500 units. 5. Calculate the total cash disbursements in the second quarter for a company that needs to purchase 31,000 kgs of raw materials at a cost of 0.20 per kg, where 50%% of purchase are paid in the quarter of the purchase is made and the remainder in the following quarter. Assume that 57,000 kg of raw material were purchased in the first quarter at a cost of 0.20 per kg