Question 7 Landmark Coal 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 $0.89 per pound. Allocate the joint costs using the relative sales values. With these costs. what is the prot or loss associated with Copper? Round to two decimal places. Answer: 528,310.50 x (35,108.63) v Hide Feedback Copper Sales Value = Copper Weight ' Selling Price Plus Gold Sales Value = 250 lb ' 16 ' $325 Equals Total Sales Value Copper sales value / total sales value = 96 Revenue Copper = Copper Weight ' Selling Price Minus Cost Copper = Sales Value 96 " 500,000 Equals Profit or Loss