Finch Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows. Expected Costs Home 1 Home 2 Home 3 Direct labor $ 60,000 $ 93, 600 $175,000 Direct materials 99, 000 130, 090 188, 000 Assume Finch needs to allocate two major overhead costs ($65,600 of employee fringe benefits and $29,190 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.) Fringe Benefits: Home Allocation Rate |x Weight of Base = Allocated Cost 1 X $ 60,000 = $ 2 X 93,000 = 3 X $ 175,000 = Total $ Indirect Materials: Home Allocation Rate x Weight of Base |= Allocated Cost 1 X $ 99,000 = $ 2 X $ 130,000 0 3 X $ 188,000 Total $ 0 The cost components to determine the total cost of each house: Expected Costs Home 1 Home 2 Home 3 Total Direct labor $ 60.000 $ 93.000 $ 175,000 $ 328,000 Direct materials Fringe benefits 0 Indirect materials 0 Total cost $ 60,000 $ 93,000 $ 175,000 328,000