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:

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?(a) 12%(b) 30%(c) 40%(d) 75%

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Process account ($) ($) Costs arising 624000 Finished output (10 000 units) 480000 Closing work-in- progress (4,000 units) 144000 624000 624000