ECONOMICS

Detailed explanation-1: -1. False. Job order costing is applicable to unique products or services that require customer specifications.

Detailed explanation-2: -Process costing is a method of costing used mainly in manufacturing where units are continuously mass-produced through one or more processes. Examples of this include the manufacture of erasers, chemicals or processed food.

Detailed explanation-3: -Process costing is a costing method or an operational type of costing in which a manufacturer tracks the cost of production of a sequence of continuous or repetitive processes required to produce a product.

Detailed explanation-4: -Process costing can also be used by service organizations that provide homogeneous services and often do not have inventory to value, such as a hotel reservation system. Although they have no inventory, the hotel might want to know its costs per reservation for a period.

Detailed explanation-5: -Answer and Explanation: The correct answer is c. products are heterogeneous. Process costing is not applicable to heterogeneous products because they are unique products.