Consider the following statements: 1. Under activity-based costing systems, overhead costs are first allocated to products before they are assigned to each activity II. Traditional costing systems tend to distort unit manufacturing costs when numerous goods are made that have widely varying production requirements III. Product diversity typically exists when a single product (e.g., a ballpoint pen) is made in different colors. Which of the above statements is (are) true? I and II Il only I only I, II, and III II and III