Heart & Home Properties is developing a subdivision that includes 310 home lots. The 200 lots in the Canyon section are belowa ridge and do not have views of the neighboring canyons and hills; the 110 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $41,000 and for each Hilltop lot is $93,000. The developer acquired the land for $1,900,000 and spent another $3,400,000 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.) Market Value Percent of Market value Cost to Allocate Allocated Cost Quantity Average Lot of Lots Cost Numerator Denominator% of Mkt Value Canyon section 0 0 0 0 Hilltop section Totals 0 Pirate Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $19.20 per pound and the flakes for $14.10 per pound. On average, 100 pounds of lobster are processed into 54 pounds of talls and 24 pounds of flakes, with 22 pounds of waste. Assume that the company purchased 3,500 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $5,800. No materials or labor costs are assigned to the waste. If1.742 pounds of talls and 761 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.) Cost per Yield per 3,500 lb purchase Market Value per 3,500 lb. purchase Percent of Market Value Cost to be allocated Allocated cost 3,500 pound purchase pound Denominator % of Mkt Value 0 0 Numerator Lobster Tails Lobster Flakes Totals 1) What is the allocated cost of the sold items? Cost per Cost of Pounds sold Goods Sold 0 pound Lobster Tails $ 0.00 Lobster Flakes $ 0.00 Totals $ 0 2) What is the allocated cost of the ending Inventory? Pounds in Cost of pound ending Ending Inventory Inventory Lobster Tails $ 0.00 Lobster Flakes $ 0.00 Cost per Totals