Heart & Home Properties is developing a subdivision that includes 480 home lots. The 170 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 310 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $46,000 and for each Hilltop lot is $90,000. The developer acquired the land for $2,400,000 and spent another $2,900,000 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.)

Pirate Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $20.70 per pound and the flakes for $15.80 per pound. On average, 100 pounds of lobster are processed into 61 pounds of tails and 26 pounds of flakes, with 13 pounds of waste. Assume that the company purchased 3,100 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $7,900. No materials or labor costs are assigned to the waste. If 1,744 pounds of tails and 723 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.)