Rikki Bake, the controller for XYZ Incorporated, suspects that factory overhead costs are driven by the number of machine hours used. Using Excel, Ms. Bake input twelve months of historical data for total factory overhead costs and machine hours used. The summary output information is provided below. Use the output information provided to develop a cost formula for overhead cost. Round the fixed and variable costs to the nearest penny.

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2 A SUMMARY OUTPUT C D 12 3 4 Multiple R Regression Statistics 0.963809718 5 R Square 0.928929173 6 Adjusted R Square 0.92182209 7 Standard Error 56.42709871 8 Observations 12 9 10 ANOVA 11 df SS MS 12 Regression 1 416166.0753 416166.0753 130.7047086 13 Residual 10 31840.17469 3184.017469 14 Total 11 448006.25 15 116 17 intercept 18 Machine Hours Significance F 4.6008E-07 Coefficients Standard Error $970.12 36.138 415.4592475 3.160962926 ! Stat 2.335045169 11.432616 P-value Lower 95% 0.0416902 4.6008E-07 44.41521808 Upper 95% 1895.816999 Lower 95% Upper 95% 44.41521808 1895.816999 29.09501101 43.18113962 29.09501101 43.18113962