Consider the Following Statements

Multiple Choice

Consider the following statements:
I. The standard cost per unit of materials is used to calculate a materials price variance.
II. The standard cost per unit of materials is used to calculate a materials quantity variance.
III. The standard cost per unit of materials cannot be determined until the end of the period.
Which of the above statements is (are) true?

A) I only.
B) II only.
C) III only.
D) I and II.
E) I, II, and III.