Heart & Home Properties is developing a subdiivision that includes 460 home lots. The 240 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 220 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $49,000 and for each Hilltop lot is $98,000. The developer acquired the land for $2,000,000 and spent another $2,300,000 on street and utilities improvements. Assign the joint land and improvement costs to the lots using the value basis of allocation and determine the average cost per lot. (Do not round your intermediate calculations.) Quantity of Lots Average Lot Cost Percent of Market Value Market Value Cost to Allocate Allocated Cost Denominator % of Mkt Value Numerator Canyon section 0 Hilltop section 0 0 Totals Pirate Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $19.40 per pound and the flakes for $15.40 per pound. On average, 100 pounds of lobster are processed into 53 pounds of tails and 26 pounds of flakes, with 21 pounds of waste. Assume that the company purchased 3,900 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $5,200. No materials or labor costs are assigned to the waste. If 1,919 pounds of tails and 927 pounds of flakes are sold, calculate the allocated cost of the sold items and the allocated cost of the ending inventory. The company allocates joint costs on a value basis. (Round your answers to nearest whole number. Round cost per pound answers to 2 decimal places.) Yield per 3,900 lb. purchase Market Value per 3,900 lb. purchase Allocated cost Cost to be allocated Cost per Percent of Market Value 3,900 pound purchase pound Numerator Denominator % of Mkt Value Lobster Tails 0 Lobster Flakes 0 Totals 0 1) What is the allocated cost of the sold items? Cost per pound Cost of Goods Sold Pounds sold Lobster Tails 0.00 Lobster Flakes 0.00 Totals $ 0 2) What the allocated cost of ending inventory? Pounds in ending inventory Cost of Ending Inventory Cost per pound Lobster Tails $ 0.00 Lobster Flakes $ 0.00 Totals 0