The controller for TG Enterprises is trying to determine whether direct labor hours or machine hours is driving the company’s overhead cost. He collected the following data on the number of direct labor hours, the number of machine hours, and the associated factory overhead cost for the year 2018:

  

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Machine Direct Labor Overhead Cost $17,610 $17,410 $17,735 $16,780 $17,240 $16,635 $17,700 $17,500 $17,775 $18,400 $16,805 $18,895 Month Hours 198 January February 195 March 197 April 189 May 192 June 185 July 203 August 195 September 198 October 207 November 192 December 215 Hours 1,810 1,825 1,788 1,713 1,738 1,463 1,938 1,700 1,813 2,100 1,938 2,063 Required a. Using Excel, run a regression on these data using machine hours as the independent variable. Provide the cost formula for overhead cost. Round fixed and variable costs to the nearest cent. Total cost $0 +($ 0 x machine hours) b. Using Excel, run a regression on these data using direct labor hours as the independent variable. Provide the cost formula for overhead cost. Round the fixed and variable costs to the nearest cent. x direct labor hours) Total cost = $ 0 +($ 0 Machine Direct Labor Overhead Cost $17,610 $17,410 $17,735 $16,780 $17,240 $16,635 $17,700 $17,500 $17,775 $18,400 $16,805 $18,895 Month Hours 198 January February 195 March 197 April 189 May 192 June 185 July 203 August 195 September 198 October 207 November 192 December 215 Hours 1,810 1,825 1,788 1,713 1,738 1,463 1,938 1,700 1,813 2,100 1,938 2,063 Required a. Using Excel, run a regression on these data using machine hours as the independent variable. Provide the cost formula for overhead cost. Round fixed and variable costs to the nearest cent. Total cost $0 +($ 0 x machine hours) b. Using Excel, run a regression on these data using direct labor hours as the independent variable. Provide the cost formula for overhead cost. Round the fixed and variable costs to the nearest cent. x direct labor hours) Total cost = $ 0 +($ 0