Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me figure out how % of Revenue is calculated and how to calculate apportioned cost total and apportioned cost per lot. Carla Vista

Please help me figure out how % of Revenue is calculated and how to calculate apportioned cost total and apportioned cost per lot. image text in transcribed

Carla Vista Realty Company purchased a plot of ground for $1,890,000 and spent $3,900,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at $106,500,$79,875, and $53,250 each, respectively. Complete the table below to allocate the cost of the lots using a relative sales value method

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Social Work Ethics Audit A Risk Management Tool

Authors: Frederic G. Reamer

1st Edition

0871013282, 978-0871013286

More Books

Students also viewed these Accounting questions