1 Part 1 of 4 Required information Excel Analytics 02-03 (Static) Job-Order Costing and Regression Analysis (L02-1, LO2-2) (The following information applies to the questions displayed below.) 2 points Landis Company uses a job-order costing system with a predetermined plantwide overhead rate based on direct labor-hours. In an effort to improve its ability to measure job profitability and make decisions, the company is considering allocating some of its overhead costs, such as electrical costs, based on machine- hours instead of direct labor-hours. To further explore the potential benefits of this approach, the company has gathered the following eight weeks of actual (not estimated) data with respect to its electrical costs: eBook Print Machine- Hours 7,700 8,900 8,600 8,100 7,600 7,100 5,500 6,800 60,300 Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Total Direct Labor-Hours 8,910 8,920 8,870 8,840 8,990 8,940 8,870 8,910 71,250 Electrical Costs $ 76,200 83,800 81,000 80,800 79,400 70,700 61,500 73,900 $607,300 Reference Using the data above, the company translated these actual amounts into annual estimates as follows: Total for eight weeks (a) 52 weeks + 8 weeks (b) Annual estimate (a) x (b) Machine- Direct Labor- Electrical Hours Hours Costs 60,300 71,250 $ 607,300 6.5 6.5 6.5 391,950 463, 125 $3,947,450 Click here to download the Excel template, which you will use to answer Requirements 4.5 and 6. Click here for a brief tutorial on Regression Analysis in Excel. Excel Analytics 02-03 (Static) Part 1 and 2 Required: 1. Using the annualized data, what is the estimated electrical cost per direct labor-hour? 2. Using the annualized data, what is the estimated electrical cost per machine-hour? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Using the annualized data, what is the estimated electrical cost per direct labor-hour? (Round your answer to two decimal places.) The estimated electrical cost per direct labor- hour is Req 1 Req 2 Using the annualized data, what is the estimated electrical cost per machine-hour? (Round your answer to two decimal places.) The estimated electrical cost per machine-hour is Req 5A Req 5B Req 5C What is the R2 for the regression line in requirement 5a? (Round your answer to four decimal places.) The R2 is Req 5A Req 5B Req 5C What does the R2 tell us? Olt tells us the percentage of variation in the dependent variable (electrical cost) explained by variation in the independent variable (machine-hours). Olt tells us the percentage of variation in the dependent variable (machine-hours) explained by variation in the independent variable (electrical cost). Olt tells us the percentage of variation in the independent variable (electrical cost) explained by variation in the dependent variable (machine-hours). Olt tells us the percentage of variation in the independent variable (machine-hours) explained by variation in the dependent variable (electrical cost).