a. Determine the cost formula for 6582-D. Use Excel's regression analysis tool to develop a cost-estimating equation for total fixed and variable manufacturing costs. Use the regression tool three times (once for indirect materials, once for indirect labor, and once for other overhead). Use the information from each analysis, along with the direct cost information to estimate the cost equation. Hint: Click on 95% confidence level box and check the box to add a Line fit plot for each indirect cost element to show the relationship in chart form. Hint: You may need to change the minimum bound on the horizontal axis to 700 to see the line clearly on each chart. Manufacturing Overhead Costs Variable Cost per Unit Total Fixed Cost Direct materials Answer 1 25 Answer 2 25 Direct labor Answer 3 5 Answer 4 5 Indirect materials Answer 5 10.5 Answer 6 5 Indirect labor Answer 7 0.5 Answer 8 1.05 Other overhead Answer 9 0.5 Answer 10 0.5 Total 41.5 36.55 Cost-estimating equation: Y = $Answer 11 42.5 + $Answer 12 25 X b. Use the prior year data to create a graph of the various overhead costs by month. Create a Combo chart as follows. Hint: Under the Insert tab, click on Insert Combo chart. 1. The primary vertical axis in dollars, and the secondary vertical axis is units of production. Hint: Click the Secondary axis box for units produced. 2. The horizontal axis is Months. 3. Units produced should be a Clustered column type; the overhead cost elements should be Line type