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Goulburn, Incorporated produces parts for heavy equipment used in mining and construction. The plant that produces one part common to many vehicles is highly automated, so all labor is considered part of factory overhead. The plant manager, who has just been promoted, would llke to understand how overhead costs fluctuate in order to improve planning and budgets. After discussions with both financial and operations members of the plant staff, there is general agreement that the best cost driver for overhead is machine-hours. Monthly data were collected from the most recent two years on machine-hours and overhead. More months of data were available, but a process change had taken place about 30 months earler, so the staff believed any data from before that time would be misleading. The dato are shown in the following table: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulbura plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours c. Use a spreadsheet proaram to compute rearession coefficients to describe the overhead cost equation. a. Use the high-low estimation method to estimate the overhead cost behavlor (fixed and variable components of cost) for the Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Complete this question by entering your answers in the tabs below. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulburn plant: Note: Round variable cost per unit to 2 decimal places. a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours worked next month. Complete this question by entering your answers in the tabs below. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. Note: Round "Cost per Machine Hour" to 2 decimal places. Round "Fixed Costs" to the nearest whole dollar amount. a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Complete this question by entering your answers in the tabs below. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Note: Round "Cost per Machine Hour"' to 2 decimal places. Round your final answer to the nearest whole dollar amount. b. Prepare a scottergraph showing the overhead costs plotted against the machine-hours Instructions: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. 4. Click save. 5. To change coordinates already saved, click on a point already placed in the graph, and enter revised coordinates in the dialog box that opens. Goulburn, Incorporated (1) Factory Overhead (in dollars) Machine-Hours Goulburn, Incorporated produces parts for heavy equipment used in mining and construction. The plant that produces one part common to many vehicles is highly automated, so all labor is considered part of factory overhead. The plant manager, who has just been promoted, would llke to understand how overhead costs fluctuate in order to improve planning and budgets. After discussions with both financial and operations members of the plant staff, there is general agreement that the best cost driver for overhead is machine-hours. Monthly data were collected from the most recent two years on machine-hours and overhead. More months of data were available, but a process change had taken place about 30 months earler, so the staff believed any data from before that time would be misleading. The dato are shown in the following table: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulbura plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours c. Use a spreadsheet proaram to compute rearession coefficients to describe the overhead cost equation. a. Use the high-low estimation method to estimate the overhead cost behavlor (fixed and variable components of cost) for the Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Complete this question by entering your answers in the tabs below. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulburn plant: Note: Round variable cost per unit to 2 decimal places. a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours worked next month. Complete this question by entering your answers in the tabs below. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. Note: Round "Cost per Machine Hour" to 2 decimal places. Round "Fixed Costs" to the nearest whole dollar amount. a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable components of cost) for the Goulburn plant. b. Prepare a scattergraph showing the overhead costs plotted against the machine-hours. c. Use a spreadsheet program to compute regression coefficients to describe the overhead cost equation. d. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Complete this question by entering your answers in the tabs below. Use the results of your regression analysis to develop an estimate of overhead costs assuming 48,000 machine-hours will be worked next month. Note: Round "Cost per Machine Hour"' to 2 decimal places. Round your final answer to the nearest whole dollar amount. b. Prepare a scottergraph showing the overhead costs plotted against the machine-hours Instructions: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. 4. Click save. 5. To change coordinates already saved, click on a point already placed in the graph, and enter revised coordinates in the dialog box that opens. Goulburn, Incorporated (1) Factory Overhead (in dollars) Machine-Hours