1. Oil Corporation has the following financial perspective of profitability for the current month: Revenues $10,000 Cost of Goods Sold Direct Materials (Variable) $1,000 Direct Labor (Variable) $1,000 Variable Overhead $500 Fixed Overhead $1,500 Gross Margin $6,000 Variable Operating Expenses $1,000 Fixed Operating Expenses $3,000 Profit $2,000 Letty, a manager at Oil Corp., has decided to adopt a managerial perspective of profitability. Using the provided information, which of the following statements are true about the managerial perspective? (Check all that apply.) Contribution margin will be $6,500. Total variable costs will be $3,500. Gross margin will be $6,500