Which of the following statements, as indicators of product cost systems, are out of date?
i. Highly profitable products are difficult to make.
ii. Competitors' prices appear to be very low.
iii. The market easily absorbs price increases.

A) i
B) i and iii
C) ii and iii
D) i, ii and iii

Product Cost Systems

Systems used to accumulate and allocate costs involved in producing a product or offering a service, including direct materials, labor, and overhead.

Highly Profitable Products

Products that generate considerably higher profits compared to other products due to superior demand, premium pricing, or lower costs.

Competitors' Prices

Refers to the pricing information of similar products or services offered by companies competing in the same market.