I have not played the game, but found the manual on google: http://cdn.akamai.steamstatic.com/steam/apps/238010/manuals/...

The section on the audio settings says: "Adjust the game’s music, dialogs and SFX volume levels"

Typically those sort of settings gives you a slider for different categories of sound. It seems like that is probably what this game does as well.

So I guess my answer is, "I think so".