rate" to 2 decimal places.) Fringe Benefits: Allocation Home X Rate Weight of Base = 1 X 2 X 3 X Total Indirect Materials: Home 1 2 3 Total Allocated Cost = $ 0 = 0 = 0 $ 0 Allocation Rate X Weight of Base = Allocated Cost X = $ X = X 0 0 = 0 $ 0 es The cost components to determine the total cost of each house: Home 2 Expected Costs Direct labor Direct materials Fringe benefits Indirect materials Total cost Home 1 Home 3 Total $ 0 0 0 0 $ 0 $ 0 $ 0 $ 0 Vernon 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 Direct labor Direct materials Home 1 $ 78,000 104,000 Home 2 $ 95,000 147,000 Home 3 $183,000 196,000 Assume Vernon needs to allocate two major overhead costs ($53,400 of employee fringe benefits and $31,290 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.) Fringe Benefits: Allocation Home X Rate Weight of Base 1 X 2 3 X Total Indirect Materials: Home 1 2 3 Total + Allocation Rate X x Allocated Cost = $ 0 0 0 $ 0 Weight of Base Allocated Cost $ 0 0 0 $ 0 The cost components to determine the total cost of each house: Expected Costs Home 1 Home 2 Home 3 Total