Check my work 3 0.18 points Reference Hartman Company's Lucas plant manufactures thermostatic controls. Plant management has experienced fluctuating monthly overhead costs and wants to estimate overhead costs accurately to plan its operations and its financial needs. Interviews with plant personnel and studies reported in trade publications suggest that overhead in this industry tends to vary with labor-hours. A member of the controller's staff proposed that the behavior pattern of these overhead costs be determined to improve cost estimation Another staff member suggested that a good starting place for determining cost behavior patterns is to analyze historical data. Following this suggestion, monthly data were gathered on labor hours and overhead costs for the past two years. No major changes in operations occurred over this period of time. The data are shown in the following table. With Libohovecote 1 251.610 82,741,30 235, 510 2,37,380 192.900 2.000.000 + 271 450 2.500,00 323,950 3.071.970 6 201010 2,615,330 271.450 2,480,390 251.6.30 3.745, 710 231,995 2,621,500 34.000 3.437,800 16.010 2.231.10 231.000 2,500,130 22.0 3,003,870 3,450 3,101,00 15 291,000 2016,650 10 3010 2,400 3,650 2.500 18 12,80 101.770 55 3,01,070 10 MIT. 1970 3 0 10 11 12 13 14 19 Mc Check my work 3 14 15 16 17 18 19 30 21 376, 450 291.000 396, 010 356, 630 333, 330 389,455 317,260 343, 520 336,950 382,990 376,330 2,404.940 3,016, 650 3,638,490 3,554, 050 3. 191,770 3.491,570 3.219, 670 3.495,580 3. 207,410 3,600,780 3.636, 800 8 ants Book Print ferences Required: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost for the Lucas plant c. Using Excel, 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 390,000 labor-hours will be worked next month. Complete this question by entering your answers in the tabs below. Required A Required Required D Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost) for the Lucas plant. (Round variable cost per unit to 2 decimal places.) Check my work Required: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost) for the Lucas plant. c. Using Excel, 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 390,000 labor-hours will be worked next month. Complete this question by entering your answers in the tabs below. Required A Required Required D Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost) for the Lucas plant. (Round variable cost per unit to 2 decimal places.) Overhead costs per LH Labor hours RA Required c> Check my work Required: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost) for the Lucas plant c. Using Excel, 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 390,000 labor-hours will be worked next month. Complete this question by entering your answers in the tabs below. Required A Required cRequired D Using Excel, compute regression coefficients to describe the overhead cost equation. (Round your answers to 2 decimal places.) Coefficients Intercept (Fixed Costs) Cost per Labor Hour Check my wo Required: a. Use the high-low estimation method to estimate the overhead cost behavior (fixed and variable portions components of cost) for the Lucas plant c. Using Excel, 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 390,000 labor-hours will be worked next month. Complete this question by entering your answers in the tabs below. Required A Required C Required D Use the results of your regression analysis to develop an estimate of overhead costs assuming 390,000 labor-hours will be worked next month. (Round "fixed cost to whole dollar amount. Round cost per labor hour to 2 decimal places.) Overhead Cost