Landmark Coal Operates A Mine During July The Company Obtained 500 Tons Of Ore W 6

Landmark Coal operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and 63,100 pounds of copper. The joint cost related to the operation was $500,000. Gold sells for $325 per ounce and copper sells for $0.93 per pound.  Allocate the joint costs using the relative sales values. With these costs, what is the profit or loss associated with Copper?

 

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