Concerning Supply Chain Finance, which of the following statements are true?

1 Activity based costing involves defining relevant activities and relating all overhead costs to these activities.

2 Direct costs include costs for raw materials or labor hours to produce a product.

3 EBIT stands for Earnings Before Interest, Taxes, Depreciation and Amortization.

4 Working capital is a measure of a company's efficiency and short-term financial health.

5 None of the above.