Question: How did they get the total for the apportioned cost?? Doran Realty Company purchased a plot of ground for $900,000 and spent $3,100,000 indeveloping it

How did they get the total for the apportioned cost??

Doran Realty Company purchased a plot of ground for $900,000 and spent $3,100,000 indeveloping it for building lots, The lots were classified into Highland, Midland and Lowlandgrades, to sell at $120,000, $90,000, and $60,000 each, respectively. InstructionsComplete 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

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

French Fragrances, Ltd. budgeted for 12,000 bottles of perfume Belle during May. The unit cost of Belle was $20, consisting of direct materials, $7; direct labor, $8; and factory overhead, $5 (fixed,...

F. Aber company manufactures one product . On dec 31,2016 Aber adopted the dollar value LIFO Inventory method. The inventory on that date using the dollar value LIFO inventory method was $900,000...

G. Doran realty company purchased a plot of ground for 1,900,000 and spent 4,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and lowland grades to sell at...

Determine the proper inventory price per unit in the following independent cases by applying the lower of cost or net realizable value rule (NRV). 1 2 5 Cost 180 105 120 60 72 Sales Value 100 130 160...

Doran Realty Company purchased a plot of ground for P800,000 and spent P2, 100, 000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at...

Problem 6 Doran Realty Company purchased a plot of ground for $900,000 and spent $2,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to...

Doran Realty Company purchased a plot of ground for $1,900,000 and spent $4,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at...

1,700,000 4,950,000 1. Doran Realty Company purchased a plot of ground for $1,900,000 and spent $4,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and...

Exercise 144 Doran Realty Company purchased a plot of ground for $1,900,000 and spent $4,100,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland...

Cold water enters a steam generator at 20C and leaves as saturated vapor at 200C. Determine the fraction of heat used in the steam generator to preheat the liquid water from 20C to the saturation...

From the Man U Case Study Continued 2. One of the areas for which ManU is best known is developing young talent and selling the player registrations. Beckham, for example, signed up with a ManU club...

What pricing strategy has Gillette used to price its new razors?

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Reword the following logical explanations for a negative message so that each has positive rather than negative words and tone. Consider what can be done rather than what cannot. Add necessary...

Global. Interview a person who is a native of another country to learn how negative messages would be conveyed in his or her homeland. (Objectives 3, 4, 5, and 6)

You own a 300-acre farm outside the city. Jack Ripsaw runs a local sawmill and has requested that you let him cut pulpwood from your farm and split the profit 50-50. Mr. Ripsaws reputation for...