Landmark Coal operates a mine. During July, the company obtained500 tons of ore, which yielded 250 pounds of gold and 62,500 poundsof copper. The joint cost related to the operation was $500,000.Gold sells for $325 per ounce and copper sells for $0.85 per pound.Allocate the joint costs using relative weight. With these costs,what is the profit or loss associated with Copper?

Round to two decimal places.

Landmark Coal operates a mine. During July, the company obtained500 tons of ore, which yielded 250 pounds of gold and 62,800 poundsof copper. The joint cost related to the operation was $500,000.Gold sells for $325 per ounce and copper sells for $0.89 per pound.Allocate the joint costs using the relative sales values. Withthese costs, what is the profit or loss associated with Copper? Round to two decimal places.

Answer rating: 100% (QA)

allocating joint costs using the relative sales value method helps assess the profitability of each ... View the full answer