Course Content / Chapter 4/ Chapter 4 Data AnalyticsChapter 4 Data AnalyticsDetermining Fixed vs. Variable Cost Components Using Excel (Diagnostic Analytics)Genessee industries introduced a new product last year (6582-D). Although it was very popular, it waset very profitable. Management has asked you to provide them with information to help them set a sales price that will provide them with a monthly gross profit of $7,500.(Last year's sales price was $75 per unit.)You know that the direct costs per unit are $25 for direct materials and $5 for direct labor. You are given information about last year's monthly production linels and manufactiving overhead costs (indirect materials, indirect labor, and other). That information is included in the file linked here.RequiredNote: Round all answers to two decimals.a. Determine the cost formula for 6582-D. Use Excels 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 overheadj. Use the information from each analysis, along with the direct cost information to estimate the cost equation.Hint: Cick 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.Hinc- You may need to change the minimum bound on the horizontal axis to 700 to see the line clearly on each chart.\table[[Mamularturity],[,Variatite Cent eer Unit,Total Bine Cent],[Direct materials,525*,500],[Direct lubor,56,0