Exercise 12-8A (Algo) Allocating costs among products LO 12-3 Jordan Construction Company expects to build three new homes during a specific accounting perfod. The estimated direct materials and labor costs are as follows. Expected Costs Direct labor Direct materials Home 1 $ 77,000 109, Home 2 Home > $103,eee $179,00 133,00 194.000 Accumo Jordan needs to allocate two major overhead costs ($53,850 of employee fringe benefits and $13,080 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 houte. (Round "Allocation rate" to 2 decimal places.) Fringe Benefits Home 1 2 3 Total Allocation Rate * Weight of Base = Allocated Cost x S 0 0 0 0 Indirect Materials Home 1 2 3 Total Allocation Rate x Weight of Base - Allocated Cost X 5 0 x 0 0 5 Fringe Benefits Home 1 Allocation Rate x Weight of Base = Allocated Cost $ 11 0 XXX 11 2 3 0 11 0 Total $ 0 Indirect Materials: Home 1 X 11 2 3 Total Allocation Rate x Weight of Base = Allocated Cost $ 0 X 0 X 0 s 0 11 Home 3 Total S 0 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 Total cost S S 0 0 0 0 OS 12 HW 0 1 Exercise 12-8A (Algo) Allocating costs among products LO 12-3 Jordan Construction Company expects to build three new homes during a specific account and labor costs are as follows. its Expected Costs Direct labor Direct materials Home 1 $ 77,00 109,000 Home 2 Home 3 $103,000 $179,609 133,000 194,600 eBook Assume Jordan needs to allocate two major overhead costs ($53.850 of employee fringe be costs) among the three jobs. Hint Required Choose an appropriate cost driver for each of the overhead costs and determine the total cos rate" to 2 decimal places.) Print afe arces Fringe Benefits: Home Allocation Rate * Weight of Base = Allocated Cost X 0 = $ 0