Q2: (10 Marks / CLO 2) Discuss whether you agree with each of the following statements. Carefully define terms and, where appropriate, provide an illustrative example. - All direct costs are variable. - Variable costs are controllable and fixed costs are not. - A cost can be direct in respect of one cost objective but an overhead in respect of another. - Including a proportion of fixed production overheads in product costs, as in absorption costing, can be justified since the allocated cost acts as a proxy for hard-to-measure opportunity costs