Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One method for developing a mine containing an estimated 100,000 tons of ore will result in the recovery of 62% of the available ore deposit

image text in transcribed

One method for developing a mine containing an estimated 100,000 tons of ore will result in the recovery of 62% of the available ore deposit and will cost $23 per ton of material removed. A second method of development will recover only 50% of the ore deposit, but it will cost only $15 per ton of material removed. Subsequent processing of the removed ore recovers 300 pounds of metal from each ton of processed ore and costs $40 per ton of ore processed. The recovered metal can be sold for $0.80 per pound. Which method for developing the mine should be used if your objective is to maximize total profit from the mine

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CIA Essentials Of Internal Auditing Exam Review 2022 Part 1

Authors: S. Rao Vallabhaneni

1st Edition

1119846285, 978-1119846284

More Books

Students also viewed these Accounting questions

Question

3. Define the roles individuals play in a group

Answered: 1 week ago