QUESTION 2: A company operates a process in which no losses are incurred. The process account for last month, when there

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QUESTION 2:
A company operates a process in which no losses are
incurred. The process account for last month, when there was no
opening work-in-progress, was as follows:
Process account
$
$
Cost arising
624,000
Finished output
(10,000 units)
480,000
Closing WIP (4,000 units)
144,000
624,000
624,000
The closing work-in-progress was complete to the same degree for
all elements of cost.
What was the percentage degree of completion of the
closing work-in-progress? (Show your
working)
QUESTION 3:
Data relating to one particular store's item are as
follows:
Average daily issues: 70 units
Maximum daily issues: 90 units
Minimum daily issues: 50 units
Lead time for the replenishment of stock 11 to 17 days
Reorder quantity 2,000 units
Reorder level 1,800 units
What is the maximum stock level (in units) for this
stores item? (show your working)