uisI-Wednesday, May 15, 2019 - 20 Total Quation I: The balance sheet, income statement, and statement of cash flows are used for accountring, but not for management accounting. ( point) for financial ueFalse Question2Variable costs per unit will inceease with a change in sales volume. (1 point) TrueFase Ouestion 3 Use the Following Income Information for questions 1 -10. (8 Points) The income statement of Corbett-Oxford Corporation, a manufacturing company, included the following items: Sales Fixed Selling Expenses Variable Selling Expenses Direct Labor Variable Administrative Expenses Fixed Administrative Expenses Direct Materials Used Fixed Factory Overhead Variable Factory Overhead $2,800 180 240 420 60 120 340 120 50 There were no beginning or ending inventories. Calculate the following: 1. Prime Cost 2. Conversion Cost 3. Total Product Cost 4. Gross Margin 5. Total Period Cost 6. Net Income 7. Total Variable Costs 8. Total Fixed Costs