Greenfield Company has derived the following regression equation to forecast manufacturing overhead: Y = $455 000 + 9.25X. Which of the following statements is true if the cost driver is labour hours?

Group of answer choices

Total manufacturing overhead is represented by the variable X.

Greenfield Company is expecting to incur $455 000 of variable manufacturing overhead

Y represents the number of labour hours

X represents the number of labour hours.

None of the given choices are correct