Consider the following statements concerning ABM (activity-based management) and ABC (activity-based costing): 1. ABM is an alternative to ABC ii. ABC cannot be used by the services industry iii. ABC is used in conjunction with ABM iv. The use of ABC results in less 'cost averaging' of overheads in diversified activities compared to the use of traditional, volume-based costing systems. Which of the above statements is (are) true? Multiple Choice ill only II and III Ill and lv only i only Lanta Restaurant compares monthly operating results with a static budget prepared at the beginning of the year. When actual sales are less than budget would the restaurant usually report favourable variances on Variable food costs and fixed supervisory salaries? A B C Food Costs Yes Yes No NO Supervisory Salaries Yes INo Yes No D Multiple Choice Choice A Choice C. Choice D Choice B