Mary Ellis owns a small manufacturing company and would like to develop more accurate estimates for overhead expenses when making planning decisions. She is pretty sure that overhead is a mixed cost that varies with direct labour-hours but she would like to do a proper analysis to determine the variable and fixed com ponents. She collected the following information for the past 12 months on direct labourhours incurred and total overhead expenses. Direct Total Overhead Month Labou rHou rs Costs January 1,500 $ 44,000 February 1,680 $ 47, 200 March 1,800 $ 48,000 April 2,520 $ 51, 200 May 2,700 $ 53,600 June 3,300 $ 56,800 July 3,900 $ 59,200 August 4,500 $ 61,600 September 4,200 $ 60,000 October 2,700 $ 54,400 November 1,860 $ 49,600 December 3,900 $ 58,400 Required: 1. Using the leastsquares regression method, estimate the variable overhead cost per direct labourhour and the total xed overhead cost per month' (Round Fixed cost to the nearest whole dollar amount and the Variable cost per direct labour-hour to 2 decimal places.) Variable overhead cost _ per direct labour-hour Total xed cost _ per month 2. Express the cost data derived in part 1 above in the form Y: a + bX. (Round Fixed cost to the nearest whole dollar amount and the Variable cost to 2 decimal places.) 3. Using the cost formula stated in part 2, estimate total overhead costs for a month where direct labourhours are expected to be 3,900. (Round your Variable cost per direct labor hour to 2 decimal places and round your final answer to the nearest whole dollar amount.) _:I