Question

Question 6 (1 point)

Landmark Coal operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and 62,500 pounds of 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.

Your Answer:

Question 6 options:

Answer

Question 7 (1 point)

Landmark Coal operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and 62,800 pounds of 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. With these costs, what is the profit or loss associated with Copper? Round to two decimal places.

Your Answer:

Question 7 options:

Answer

Question 8 (1 point)

Answer 1

Q6

Revenue Joint Costs Loss 62500*0.85 500000*62500/62750 53125-498008 $ 53,125.00 $ 4,98,007.97 $ (4,44,882.97)