Question Content Area Self-Construction Harshman Company constructed a building for its own use. The company incurred costs of $50,000 for materials and supplies, $64,000 for direct labor, and $5,000 for a supervisor's overtime that was caused by the construction. Harshman uses a factory overhead rate of 50% of direct labor cost. Before construction, the company had received a bid of $164,000 from an outside contractor. Required: Assuming common practice is followed, at what value should Harshman capitalize the building? $ fill in the blank 1________ Next Level The cost of the constructed asset will more closely approximate the cost of an equivalent purchased asset when the _________ approach is used. Next Level What if the bid from the outside contractor had been $137,000? At what amount should the building be recorded on the company's books? If the bid from the outside contractors was ______ , The ________ seems more reasonable in this situation. If Harshman does use a full-cost approach and the ______ bid is determined to be the fair value of the asset, Harshman has incurred excessive costs to construct the building.