Question: Yellowknife Mining sold 34,300 oz of gold in Year 1 at an average price of $1160 per ounce. Production was down to 23,750 oz in

Yellowknife Mining sold 34,300 oz of gold in Year 1 at an average price of $1160 per ounce. Production was down to 23,750 oz in Year 2 because of a strike by the miners, but the average price obtained was $1280 per ounce. What was the percent change from Year 1 to Year 2 in:
a. The amount of gold produced?
b. The average selling price per ounce?
c. The revenue from the sale of gold?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Given Year 1 value V i Year 2 value V f Gold produced 34300 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Related Book