re Required information The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes The company's cost analyst has concluded that utilitles cost is a mixed cost, and he is attempting to find a base that correlates with the cost. The controller has suggested that tons mined might be a good base to use in developing a cost formula. The production superintendent disagrees she thinks that direct labor-hours would be a better base. The cost analyst has decided to try both bases and has assembled the following Information: Direct Labor- Utilities Quarter Tons Mined Hours Cost Year 1: First 31,000 6,600 $ 66,000 Second 20,000 4,600 $ 61,000 Third 36,eee 5,600 $ 76,000 Fourth 28,900 7,600 $ 91,000 Year 2 First 3-4 13,200 $116,000 Second 41,000 13,800 $121,000 Third 46,000 11,200 $191,00 Fourth 44,000 14,200 $136,000 ces 2. Using the least-squares regression method, estimate the variable utilities cost per direct labor-hour and the total fixed utilities cost per quarter Express these estimates in the form Y = a + bx (Round the Variable cost to 2 decimal places and Fixed Cost to the nearest whole dollar amount.) Required information The Hard Rock Mining Company is developing cost formulas for management plan The company's cost analyst has concluded that utilities cost is a mixed cost, and he correlates with the cost. The controller has suggested that tons mined might be a formula. The production superintendent disagrees: she thinks that direct labor-hou analyst has decided to try both bases and has assembled the following information Direct Labor- Utilities Hours Cost Tons Mined Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 31,000 20,000 36,000 28,000 6,600 4,600 5,600 7,600 $ 66,000 $ 61,000 $ 76,000 $ 91,000 34,000 41,000 46,000 44,000 13,200 13,800 11,200 14,200 $116,000 $121,000 $101,000 $136,000 2. Using the least-squares regression method, estimate the variable utilities cost per dire per quarter. Express these estimates in the form Y = a +bX. (Round the Variable cost to nearest whole dollar amount.) Y=