Gallop Corporation prepared the following report for the first quarter of this year: Sales (@ $2,800 per unit) Less: Cost of goods sold Gross margin Less: Selling expenses Administrative expenses Income $7,840,000 4,139,520 3,700,480 $1,254,400 1,000,000 2,254,400 $1,446,080 Gallop's controller, Nancy Johnstone, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following: Fixed portion of the cost of goods sold for the quarter amounted to $1,344,000. 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 cost" to 2 decimal places.) Cost of goods sold Selling expenses |Y= per quarter + Y = per quarter +