Work out how much profit I have if it cost £10 to make a single chair. I made 10 chairs and sold each one at £23.
Explain, using an example, what is meant by (a) the maximum stock level .
Largest amount of stock the business has decided to keep at any one time
Level of current stock at which the business orders new stock
At the end of the working day on 1 June, Jollife Metals had 2,000 sheets of metal in stock. By 31 July, this had fallen to 400 sheets. How many metal sheets were in stock at the end of the working day on (a) 1st August; (b) 31st August; (c) 1st November?
Quality - achieving a minimum standard for a product or service, or a production process, which meets customers’ needs. Is this definition correct?