ECONOMICS

Detailed explanation-1: -Beverage . Beverage industry is an industry that would most likely use process costing procedures. This is because the production of beverage consists of continuous generation of products in a step wise manner.

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: -Answer: Paint manufacturer, Yacht builder and soft drink bottler companies are most likely to use the process costing system.

Detailed explanation-4: -Answer and Explanation: Process costing would be more likely use by the companies who are involved in producing relatively homogeneous (Identical products) goods and services in batches by following continuous and consistent processes.

Detailed explanation-5: -Question: A process costing system1 is used by companies that produce similar or identical units of product in batches employing a consistent process. Examples of companies that use process costing include Chevron Corporation (petroleum products), the Wrigley Company (chewing gum), and Pittsburgh Paints (paint).