Refer to the information in P3.4. The following regression results were obtained using these data:

Required
A. What is the estimated amount of overhead if 2,200 direct labor hours are worked next month?
B. What is the estimated amount of overhead if 4,200 machine hours are worked next month?
C. Which of these variables, direct labor hours or machine hours, do you think is more useful? Why?

Direct Labor Hours Regression Statistics Multiple R R square 0.835394694 0.697884295 Coefficients Standard Error TStat 14970.91994 Intercept Labor hours 11109.00128 1.34763869 4.806235667 25.83906154 5.376153673 4 Machine Hours Regression Statistics Multiple R R square 0.994679721 0.989387748 Standard Error 1097 278139 Coefficients TStat 35542 95886 Intercept Machine hours 32.39193201 30 53370388 8.959179043 0.293419334