Consider the following statements about absorption$-$cost pricing formulas:

I. Absorption$-$cost formulas consider a company's fixed manufacturing costs when establishing a selling price.

II$.$ Absorption$-$cost formulas are often justified on the grounds that a company must cover all of its costs in the long run.

III. Absorption$-$cost data are the type that managers need when facing certain pricing decisions, such as whether or not to accept a special order.

Which of the above statements is $($are$)$ true?

Group of answer choices

II only.

I and II$.$

I and III.

II and III.

I, II$,$ and III.