Gallop Corporation prepared the following report for the first quarter of this year. 7 $7,280,000 3,272,000 4,008,000 10 Sales (@ $2,800 per unit) Less: Cost of goods sold Gross margin Less: Selling expenses Administrative expenses Income points $1,063,400 1,080,000 2, 143,400 $1,864,600 02-14:35 Gallop's controller, Nancy Johnstone, studied the costs in detail, particularly focusing on cost behaviour. Her analy following: Fixed portion of the cost of goods sold for the quarter amounted to $1,036,000. Of the selling expenses, 20% was variable with respect to the number of units. . All of the administrative expenses were fixed. Required: 1. Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cos places.) + X Y = Cost of goods sold Selling expenses per quarter per quarter + X Y =