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 September 18, 2018, 8:06 pm ad1c9bdddf - https://brainmass.com/economics/finance/joint-cost-576946
This solution fids the cost of each item out of of the joint cost using relative sales value method.