Which of the following statements is true? I. The variable costs of a product are relevant in a decision concerning whether to eliminate the product. II. Fixed costs are irrelevant in decisions about whether a product should be dropped. III. A product whose revenues do not cover its variable costs and its traceable fixed costs should usually be dropped. IV. In a decision to drop a product, the product should be charged for rent in proportion to the space it occupies even if the space has no alternative use and the rental payment is unavoidable. Multiple Choice Both statements I and II are true. Both statements II and III are true. Both statements II and IV are true. Both statements I and III are true.