LOS P6-5A. Least Squares Regression Analysis The controller for 1G Enterprises is trying to determine direct labor hours or machine hours is driving the company's overhead cost. He collected the ing data on the number of direct labor hours, the number of machine hours, and the associated to overhead cost for the year 2018: Machine Hours Direct Labor Hours Month January February March April May June July August September October November December 132 130 131 126 128 123 135 130 132 138 128 143 724 730 715 685 695 585 775 680 725 840 775 825 Overhead Com $5,750 $5,685 $5,790 $5,480 $5.590 $5 430 $5,790 $5,705 $5.804 $5.976 $5,487 $6.108 Required Using Excel, run a regression on these data using machine hours as the independent vatbl. Provide the cost formula for overhead cost. Round fixed and variable costs to the neareste h Using Excel, run a regression on these data using direct labor hours as the independent variat Provide the cost formula for overhead cost. Round the fixed and variable costs to the com cent What is the RP for the regression in requirement a? What is the R. for the regression in reque ment b? Which independent variable, direct labor bours or machine hours, is a better predicted factory overhead cost? d Assuming that expected January 2019 machine hours are 150, what is expected factory ovarios cast using the cost formula in requirement a? (Note: Round to the nearest dollar) a