Which of the following statements relating to management accounts are TRUE? (1) They have a standard format (2) They are prepared for internal use Neither statement 1 nor statement 2 Statement 2 only Statement 1 only Both statement 1 and statement 2 A company has two production cost centres, M and L M absorbs overheads on the basis of machine hours and Labsorbs overheads on the basis of labour hours. The following information ic availahin for the next period Job ABC will require four machine hours and three labour hours in each of the two production cost centres How much production overhead will be absorbed by job ABC ? $31 $44 $32 $64 In a spreadsheet, which menu options should be selected in order to save a copy of the current worksheet whilst leaving the original document intact? File and Save Insert and Save File and Save As Insert and Save As