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Category > Accounting Posted 17 May 2017 My Price 9.00

Doran Realty Company purchased a plot of ground for $900,000

Doran Realty Company purchased a plot of ground for $900,000 and spent $3,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at $120,000, $90,000, and $60,000 each, respectively

Complete the table below to allocate the cost of the lots using a relative sales value method.
                      Apportioned Cost
Grade   No. of Lots   Selling Price   Total Revenue   % of Total Sales   Total   Per Lot
Highland   20     $?   $?   %?   $?   $?
Midland   40     ?   ?   %?   ?   ?
Lowland   100     ?   ?   %?   ?   ?
    160         $?       $?    
    

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Alpha Geek
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Status NEW Posted 17 May 2017 10:05 AM My Price 9.00

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Attachments

file 1495015563-961615_1_636305822977344137_Plot-cost-allocation.xlsx preview (97 words )
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