Calculating dollar values for each position

[TheGoldenDroid]

I'm in my first auction league and was looking into calculating my own dollar values based on our league settings. From my research, i've been able to calculate these values using my entire projections from a hitters and pitchers standpoint. What i haven't seen is breaking this down further and giving each of the positions a percentage of the 67% for hitters....for example, C having 8%, 1B having 13% and so on. This way, you could find the "replacement player" for each position rather than the entire league. Am I on the right track here or is this not practical?

Also, how are bench spots taken care of? Do they just add on to the total roster size of the whole league so my "replacement player" stats will be lower?