Stuart 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 $ 74,000 98,000 Home 2 $ 93,000 133,000 Home 3 $183,000 199,000 Assume Stuart needs to allocate two major overhead costs ($52,500 of employee fringe benefits and $34,400 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.) Answer is complete but not entirely correct. Fringe Benefits: House Allocation Rate $ 21.14 X Weight of Base $ 52,500 X $ 52,500 X Allocated Cost $ 1,109,850 1,394,925 1 2 S 26.57 X 3 $ 52.29 X $ 52,500 x 2,745,225 $ 5,250,000 Total Indirect Materials: House Allocation Rate 22.79 X 1 $ = Weight of Base $ 34,400 X $ 34,400 X $ 34,400 X 2 Allocated Cost $ 783,976 1,063,992 1,592,032 $ 3,440,000 $ 30.93 X = 3 $ 46.28 X Total Home 3 Total 183,000 $ 350,000 The cost components to determine the total cost of each house: Expected Home 1 Home 2 Costs Direct labor 74,000 93,000 Direct 98,000 133,000 materials Fringe 11,099 X 13,949 X benefits Indirect 7,840 10,640 Materials Total cost $ 190,939 $ 250,589 199,000 430,000 27,452 X 52,500 15,920 34,400 $ 425,372 $ 866,900