Please assist in answering all questions below

4. Conversion costs are costs incurred in the conversion of raw materials into finished products ready for sale. REQUIRED: Please discuss which costs can be included in the conversion of raw materials into finished products ready for sale as per the requirements of IAS 2? 5. A score that is used to determine what financial reporting framework should be used is referred to as the Public Interest Score (PIS). REQUIRED: Please discuss how the Public Interest Score (PIS) should be calculated to determine the financial reporting framework to be used? (4) 6. Elec Ltd was a state-owned company (as defined by the Public Finance Management Act (PFMA) that provided electricity and in the current financial year ending 31 December 2023, Elec Ltd was privatized. The company had a Public Interest Score of 250 and their annual financial statements are being compiled independently. REQUIRED: Please discuss which reporting framework can be used by Elec Ltd for the financial year ending 31 December 2023