Exercise 5-39 (Algo) Methods of Estimating Costs: Simple Regression (LO 5-5) Adriana Corporation manufactures football equipment. Simple regression results from the data of Adriana Corporation are as follows: Equation: Overhead = $43,416 + ($89.30 x Machine-hours) Statistical data Correlation coefficient R2 .619 .383 Required: Estimate overhead if the company expects the plant to operate at a monthly average of 9,070 machine-hours next year. Overhead costs