Explore BrainMass
Share

Explore BrainMass

    Joint Cost

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Landmark Coal operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and 63,400 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 Cooper?

    © BrainMass Inc. brainmass.com May 20, 2020, 11:32 pm ad1c9bdddf
    https://brainmass.com/economics/finance/joint-cost-576946

    Solution Summary

    This solution fids the cost of each item out of of the joint cost using relative sales value method.

    $2.19

    ADVERTISEMENT