1) Homeland Miners 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.

2) Clean Miners operates a mine. During July, the company obtained 500 tons of ore, which yielded 250 pounds of gold and63,400 pounds of copper. The joint cost related to the operation was $500,000. Gold sells for $325 per ounce and copper sells for $0.93 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.