Olal Question 2 (41 marks) Question 2.1 (10 marks) Complete the following puzzle: ACROSS 3. The point at which an organisation needs to place an order for inventory items to avoid inventory shortfall 4. = Re-order level - (Average usage x Average lead time). 5. The international Accounting Standard that prescribes the accounting treatment for inventories. 7. An inventory system where all inventory acquisitions are recorded in a purchases account. 8. A technique that expands and calculates material requirements based on a master manufacturing schedule, using a bill of materials and inventory status data within a manufacturing organisation. 10. = Re-order level - (Minimum usage x Minimum lead time) + E0Q DOWN Page 13 of 25 2021 DISTANCE MODE ASSIGNMENTS -... 2021 DISTANCE MODE ASSIGNMENTS -... 2021 DISTANCE MODE ASSIGNMENTS X Commercial law 1A APRIL VS - U. K... Fullscreen tools Fit Width Fit Page C. Rotate View Hand Select 1. A cost that arises when a company holds inventory for sale or raw materials to be issued to production. 2. An inventory system which records inventory items immediately after each transaction takes place. 6. This inventory level is the extra inventory carried during a time when demand or the lead time is uncertain. 9. This inventory systems aims to eliminate non-value-added activities, Tools Single Page 10 Continuous I View Close Fullscreen Question 2.2 (15 marks) An organisation manufactures a single product. The following information with regard to the raw material needed in the production process is supplied to you: Page 14 of 25