Respond that the following statements are TRUE or FALSE:

1) A process costing system is most suitable for businesses that manufacture batches of unique products or provide specialized services.

2) In a process costing system, each process or department has its own Work-in-Process Inventory account.

3) A textile manufacturing company is most likely to use job order costing to arrive at the cost per unit of textile manufactured and sold to customers.

4) Process costing is the most appropriate costing method for a restaurant serving specialty cuisine.

5) Under process costing, direct materials and direct labor are assigned to Work-in-process Inventory for each process that uses them.