Home Properties is developing a subdivision that includes 330 home lots The 210 lots in the Canyon section are below a ridge and

Question

Home Properties is developing a subdivision that includes 330 home lots The 210 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills the 120 lots in the Hilltop section offer unobstructed views The expected selling price for each Canyon lot is 44 000 and for each Hilltop lot is 102 000 The developer acquired the land for 1 600 000 and spent another 3 800 000 on street and utilities improvements Assign the joint land and improvement costs of 5 400 000 to the Canyon section and the Hilltop section using the value basis of allocation Note Do not round your intermediate calculations Canyon section Hilltop section Totals Sales Value Numerator Percent of Sales Value Denominator of Sales Value Cost to Allocate Allocated Cost

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