Exercise 12-8A (Algo) Allocating costs among products LO 12-3 Jordan Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows. Expected Coats Direct labor Direct materials Home 1 Homo 2 Home 3 $ 77,000 $100,000 $176,000 102,000 143,000 198,000 Assume Jordan needs to allocate two major overhead costs ($53,400 of employee fringe benefits and $13,290 of indirect materials costs) among the three jobs Required Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house. (Round "Allocation rate" to 2 decimal places.) Allocation Rato x Weight of Base Allocated Cost $ 0 Fringe Benefits Home 1 2 3 Total 0 0 0 $ Allocation Rate x Welght of Base Allocated Cost $ 0 Indirect Materials Home 1 2 3 Total 0 X 0 $ 0 Prey 1 of 3 Next > Requirea Choose an appropriate cost driver for each of the overhead costs and determine the total cost of eac rate" to 2 decimal places.) Fringe Benefits: Home Allocation Rate Weight of Base = Allocated Cost X $ 0 1 2 11 0 3 11 0 0 Total $ $ Indirect Materials: Home 1 Allocation Rate x Weight of Base = Allocated Cost $ X 0 11 0 2 111 3 0 Total $ 0 Home 3 Total The cost components to determine the total cost of each house: Expected Costs Home 1 Home 2 Direct labor Direct materials Fringe benefits Indirect materials $ $ 0 0 0 0 Total cost 0 $ $ 0 $