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JM Company purchased a four-story building and converted it into 24 condominiums of three different categories. The five 3-bedroom units are expected to sell for
JM Company purchased a four-story building and converted it into 24 condominiums of three different categories. The five 3-bedroom units are expected to sell for $150,000 each, the twelve 2- bedroom units are expected to sell for $75,000 each, and the seven 1 bedroom units are expected to sell for $50,000 each. The company spent $500,000 to acquire the building and $900,000 on common construction costs in the conversion process. Considering sales value, how much of these two joint costs would be assigned to each 1 bedroom condominium? $52,500 $105,000 O $630,000 O $245,000 O $35,000
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