Required Information [The following Information applies to the questions displayed below.] National Retail has two departments, Housewares and Sporting. Indirect expenses for the perlod follow. Rent $ 45, 030 Advertising 25, 060 Insurance Total $ 80, 030 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 occupled. The company now wants to allocate indirect expenses using the allocation bases shown below. Value of Insured Department Square Feet Sales Assets Housewares 1,563 $ 340,803 $ 56,093 sporting 2,440 163, 830 44, 830 Total 4, 803 $ 503,030 $ 103,063 Required: 1. Allocate Indirect expenses to the two departments using the allocation method used In prior periods. Department Square Footage Rate Total Housewares Sporting2. Allocate 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. Allocate $45,000 of rent using square feet occupied Square Footage Percent of Total Cost Allocated Housewares Sporting Total Allocate $25,000 of advertising using percentage of sales Sales Percent of Total Cost Allocated Housewares Sporting Total Allocate $10,000 of insurance using value of insured assets Assets Insured Percent of Total Cost Allocated Housewares Sporting Total