True or Flase 1. Managerial Accounting places more emphasis on the future. 2. A key concept in managerial accounting is performance measures influence the behavior of managers. 3. Products costs are identified with account periods rather than with goods produced. 4. Overhead allocation rate is calculated by dividing estimated overhead costs by the estimated quantity of the allocation based. 5. There are three steps in processing costing. 6. The calculation for the estimate of variable cost is Change in cost / change in activity 7. There are two ways in which a company can take steps to reduce fixed costs. 8. In variable costing, fixed manufacturing overhead is included in product cost. 9. Sunk costs are incremental costs. 10. GAAP requires full costing for external reporting purposes