eskew development purchases, develops, and sells commercial buil

Project Description:

eskew development purchases, develops, and sells commercial building sites. as the sites are sold, they are cleared at an average cost of $2,500 per site. storm drains and driveways are also installed at an average cost of $4,000 per site. selling costs are 10 percent of sales price. administrative costs are $425,000 per year. during 2009, the company bought 1,000 acres of land for $5,000,000 and divided it into 200 sites of equal size. the average selling price per site was $80,000 during 2009 when 50 sites were sold. during 2010, the company purchased and developed another 1,000 acres, divided into 200 sites. sales totaled 300 sites in 2010 at an average price of $80,000.requireda. prepare 2009 and 20 i0 functional income statements using absorption costing.b. prepare 2009 and 2010 contribution income statements using variable costing.
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Price Type: Negotiable

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