Consider the following statements. Volume based costing systems can produce distorted product costs if: 1overheads are driven by non-volume factors 2overheads are a minor part of the product cost 3it fails to recognise non-manufacturing costs as product costs 4overhead costs are directly related to production volume. Which of the statements is true? Select one: a. 1 and 2 only b. 1 and 3 only c. 2 and 3 only d. 3 and 4 only