TB MC Qu$.4-9($Static$)$ Which of the following...

Which of the following statements is true?

I. In activity$-$based costing, unit product costs computed for external financial reports include direct materials, direct labor, and manufacturing overhead costs.

II$.$ In activity$-$based costing, unit product costs computed for external financial reports include manufacturing overhead costs that are computed by multiplying activity rates by the activities required to produce a product.

Multiple Choice

Statement I is true.

Statement II is true.

Both statements are true.

Neither statement is true.