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How do I solve this problem? (1-4) Determine budgeted overhead costs Budgeted overhead cost Regression line Range within 95% of observation High - Low Cost

How do I solve this problem? (1-4)

  1. Determine budgeted overhead costs
  2. Budgeted overhead cost
  3. Regression line
  4. Range within 95% of observation
image text in transcribed High - Low Cost Estimation and Simple Regression AnalysisAssume we have the following observations relating to overhead costs and direct laborhours for Department A of the ABC Company .HWDirect XLabor HoursOverhead Costs154020501435133018Required :"( 1 ) Determine the budgeted overhead costs for Department A in a month when thereare 13 direct labor hours if the high - low method of estimating cost behavior patternsis used .( 2 ) Using regression analysis determine what the budgeted overhead cost should be in amonth when Department A should work 13 direct labor hours .( 3 ) Does the regression line in ( 2 ) explain the data well ? Why ?( 4 ) What is the range within which 95 percent of the observations should lie ?"

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