Problem 24-2A (Algo) Allocation of indirect expenses to departments LO P2 [The following information applies to the questions displayed below]] National Retail has two departments, Housewares and Sporting. Indirect expenses for the period follow. The company occuples 4,000 square feet of a rented building. In prior periods, the company divided the $80,000 of indirect expenses by 4,000 square feet to find an average cost of $20 per square foot, and then allocated indirect expenses to each department based on the square feet it occupied. The company now wants to allocate indirect expenses using the allocation bases shown below. Problem 24-2A (Algo) Part 2 2. Allocate indirect expenses to the two departments. Rent expense is allocated based on square feet occupled. Advertising expense s allocated based on total sales. Insurance expense is allocated based on the value of insured assets. 2. Allocte indirect expenses to the two departments. Rent expense is allocated based on square feet occupled. Advertising expense is allocated based on total sales. Insurance expense is allocated based on the value of insured assets