ECONOMICS

Detailed explanation-1: -Process costing is not applicable to heterogeneous products because they are unique products.

Detailed explanation-2: -Process costing is an important product costing method for manufacturing companies that mass produce a large volume of similar products or units of output. Process costing is widely used in industries such as oil refining, food production, chemical processing, textiles, glass, cement and paint manufacture.

Detailed explanation-3: -Process costing is appropriate for companies that produce a continuous mass of like units through series of operations or process. Also, when one order does not affect the production process and a standardization of the process and product exists.

Detailed explanation-4: -Answer and Explanation: The correct answer is option D) A builder of customized yachts. A builder who customized yachts manufacturer is likely to use job-order costing as it engaged in manufacturing customized items.