Lands Company uses a job-order costing system with a predetermined plantwide overhead rate based on direct labor hours. In an effort to improve its ability to measure job profitability and make decisions, the company is considering allocating some of its overhead costs, such as electrical costs, based on machine-hours instead of direct labor-hours To further explore the potential benefits of this approach, the company has gathered the following eight weeks estimated) data with respect to its electrical costs Week 1 Week 2 7,700 Week 3 Costa 76,300 83,800 1.000 8,100 1,400 7,100 Week 7 9,940 9,970 9,919 1403-300 Using the data above, the company translated these actual amounts into annual estimates as follows Total for eight weeks (a) 52 weeks weeks (b) Annual estimate (*)(b) Diab Machine- 10.300 4.5 71.358 4.5 443,125 $3,947,450 Click here to download the Excel template, which you will use 30 atawer Requirements 4.5 and 6 Click here for a brief tutorial on Regression Analysis in Excel Excel Analytics 02-03 (Static) Part 5 and 6 5. Refer to the eight weeks of actual data included in the Excel template Use least-squares regression to estimate the fixed electrical cost per week and the variable electrical cost per machine-hour pou can refer to Appendix 5A of the text for a brief lustration of the method being used to perform the regression computations) b. What is the R2 for the regression tine in requirement S e What does the R2 tell us? Complete this question by entering your answers in the tabs below. Reg SA RG SC Use least-squares regression to estimate the fixed electrical cost per week and the variable ectrical cost per machine-hour (You can refer to Appendix SA of the text for a brief stration of the method being used to perform the regression computations.) (Round the estimated variable cost per machine hour te two decimal places The estimated feed electrical cost per week is The estimated variable electrical cost per machine-hours Re 6. If the company continues to use direct labor-hours to allocate electrical costs to jobs, what impect i profitability of Job 04007 OwJQ400 thereby making appear more than two based on pache-hous O will undercoat Job G400 thereby making it appear more profate than it would Owundert Job G400 thereby making appears pran