Which of the following statements are true?

1. Consider the following statements regarding traditional costing systems:

I. Overhead costs are applied to cost objects (products, customers, services) on the basis of volume-related measures

II. All costs, including overhead costs, can be directly traced to the cost object

III.Traditional costing systems tend to distort costs when numerous goods/services are made/provided that have widely varying consumption patterns

Which of the following statements are true?

II only

III only

I and III

I only

II and III