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In: AccountingGibson Construction Company expects to build three new homesduring a specific accounting period. The estimated...Gibson Construction Company expects to build three new homesduring a specific accounting period. The estimated direct materialsand labor costs are as follows: Expected Costs Home 1 Home 2 Home 3Direct labor $ 80,000 $ 94,000 $ 187,000 Direct materials 92,000139,000 195,000 Assume Gibson needs to allocate two major overheadcosts ($54,150 of employee fringe benefits and $12,780 of indirectmaterials costs) among the three jobs. Required Choose anappropriate cost driver for each of the overhead costs anddetermine the total cost of each house. (Round "Allocation rate" to2 decimal places.)
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