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 $0.93 per pound. Allocate the joint costs using the relative sales values. With these costs, what is the profit or loss associated with copper?

Copper Sales Value = Copper Weight * Selling Price + Gold Sales Value - 250lb * 16 * $325 = Total Sales Value

Copper Sales Value / Total Sales Value = %

Revenue Copper = Copper Weight * Selling Price - Cost Copper = Sales Value % * 500,000 = Profit or Loss