Cycle Accessories manufacturers cellphone holders that can be mounted on the handle bars of most motorcycles. The manufacturing process is highly automated and management feels that machine-hours are likely the main driver of overhead costs. Data from the most recent year are shown below.

Month	Machine-Hours	Overhead Costs
January	3,100	$	59,600
February	3,160		63,620
March	3,400		70,400
April	4,120		77,120
May	4,300		78,960
June	4,900		78,480
July	5,500		88,320
August	6,100		88,070
September	5,800		84,880
October	4,300		77,120
November	3,460		72,000
December	5,500		85,200

Required:

1. Using least-squares regression, estimate the fixed cost and variable cost elements of monthly overhead costs. Estimate the fixed cost element to the nearest dollar and the variable cost element to the nearest cent.

Fixed cost
Variable cost		______ per machine hour

2. If the company expects to use 4,600 machine-hours next month, estimate total overhead costs.