Required information [The following information applies to the questions displayed be/o w.] National Retail has two departments, Housewares and Sporting; Indirect expenses for the period follow' Rent $ 45,000 Advertising 25,000 Insurance 10,000 Total $ 80,000 The company occupies 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 nd 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. Value of Insured Department Square Feet Sales Assets Housewares 1,960 $ 240,000 $ 46,000 Sporting 2,040 260,000 54,000 Total 4.000 $ 500,000 $ 100,000 Required: 1. Allocate indirect expenses to the two departments using the allocation method used in prior periods' Department Square Feet Sporting