Required information [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 occupies 4.000 square feet of a rented buliding. 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 occupled. The company now wants to allocate indirect expenses using the allocation bases shown below. Required: 1. Allocate indirect expenses to the two departments using the allocation method used in prior periods. Required information [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 occupies 4,000 square feet of a rented buliding. 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 occupled. The company now wants to allocate indirect expenses using the allocation bases shown below. 2. Allocate indirect expenses to the two departments. Rent expense is allocated based on square feet occupied. Advertising expens s allocated based on fotal sales. Insurance expense is allocated based on the value of insured assets