Question
Could you please solve this question for me ASAP. It is due in 45 mins. I had 5 questions to complete & I am stuck
Could you please solve this question for me ASAP. It is due in 45 mins. I had 5 questions to complete & I am stuck on my 4th one right now
Case Study 2: Gringott's
The Gringott's Mine extracts gold in central London. Each tonne mined is 40% Grade F (fine) gold, 40% Grade VG (very good) gold, and 20% gold alloy (not so great, but still shiny and good for making things a gold colour). Output usually sells within two months. In January, Gringott's mined 1,000 tonnes of gold. It spent 10,000 on the mining process. Grade F gold sells for 1000 per tonne. Grade VG gold sells for 60 per tonne. Gringott's gets one-quarter of a vat of gold alloy from each tonne of gold processed. The gold alloy sells for 60 per vat.
Bogrod, the head goblin at Gringott's bank has been approached by one of his workers, Gornok, with a proposal to further process Grade VG gold into Galleons on-site. Gornok insists this is a good idea since idle goblin-hours (labour-hours) are available. The process would cost 6000 with no loss in volume. One tonne of Grade VG gold makes 108,000 Galleons.
Currently, Gringott's sells gold to the Muggle Mint for processing into Galleons (currency; think about a minesellingmoneytoabank;theyareoutsourcingprocessingofgoldintocoins). TheMuggleMintsells Galleons back to Gringott's for a price of 5.50 per100 Galleons (ie. Gringott's is buying back the finished product from the Mint. With Gornok's suggestion they would be able to by-pass this and complete the entire process on their own).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started