Consider the following statements regarding traditional costing systems:

i. overhead costs are applied to products on the basis of volume-related measures.
ii. all manufacturing costs are easily traceable to the goods produced.
iii. traditional costing systems tend to distort unit manufacturing costs when numerous goods are made that have widely varying production requirements.

which of the above statements is (are) true?

Statement I and III

Explanation:

Under traditional costing, there is no such identification of various activity pools like activity costing, there is general allocation of overheads based on overhead assigned on labor hours, or machine hours etc:

This is the method in which volume of goods is important and that is what matters for cost allocation.

Further, when they require numerous activities and then the costs allocation based on each different process or activity is not possible as number of activities are really high.

Therefore Statement I and Statement III are correct.

d. low interest rates

the correct option is c