Process costing systems are suitable for firms that produce
i. homogeneous products.
ii. heterogeneous products.
iii. individual products.
iv. repetitive products.

A) i and iii
B) i and iv
C) ii and iv
D) i and ii

Homogeneous Products

Goods that are essentially identical in quality and function, making them indistinguishable from one another to consumers.

Process Costing Systems

Accounting methods used to allocate production costs to products or services in continuous processes, where the products are indistinguishable from each other.

Repetitive Products

Goods that are mass-produced, usually on an assembly line, with little variation in design for each unit produced.