TB FA Problem Qu. 22-187 (Static) American Retail has two... American Retail has two departments, Housewares and Sporting. Indirect expenses for the period follow. The company occupies 8,000 square feet of a rented building. In prior periods, the company divided the $160,000 of indirect expenses by 8,000 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 occupied The company now wants to allocate indirect expenses using the allocation bases below. Required: 1. Allocate indirect expenses to the two departments using the allocation method used in prior periods. 2. 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. Please submit your file attachment response in one of the approved file formats; Word file (.doc or docx), Excel file (.xis or .xisx), or POF. To submit photo or image files please paste them into Word or PDF. Consult with your instructor as needed on their preferred file attachment format