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Which of the following statements is true? O All the statements are false. O All the statements are true. Because it is not easily quantifiable, opportunity costs should typically be ignored when making decisions. O A firm that has few overhead costs but significandamounts of material and labor costs would likely find a flexible budget a useful performance measurement tool. Which of the following costs is relevant to a company considering accepting a special order for a part that it currently manufactures? O Neither incremental costs nor avoidable costs. O avoidable costs only O incremental costs only Both incremental costs and avoidable costs E Company has developed the following standards for one of its products: Direct materials: 20 pounds at $4 per pound Direct labor: 5 hours at $18 per hour The following activities occurred during the month of October: Materials used: 180,000 pounds at $4.20 per pound Units produced: 10,000 units Direct labor: 51,000 hours at $17.70 per hour E's materials quantity variance would be: O $120,000 favorable O $80,000 favorable $80.000 unfavorable $120,000 unfavorable