The method of least squares was used to develop a cost equation to predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received: Line Item Description Amount Intercept 147,400 Slope 210 The cost driver used was number of parts inspected. Required: 1. What is the cost formula for a year? Total annual cost of receiving = ( fill in the blank 1 of 5 x fill in the blank 2 of 5$ ) + ( fill in the blank 3 of 5$ fill in the blank 4 of 5 ) 2. Using the cost formula from Requirement 1, predict the cost of parts inspection for a year in which 70,000 parts are inspected. Total annual cost of receiving = fill in the blank 5 of 5$