Question 1 2 pts The Gun 'n' Roses Company uses a lot of machinery, so the company uses machine hours to compute its predetermined overhead rate for normal costing. YRose, the accountant for the company, is using machine hours to compute the estimated overhead for the company. Data for the last 12 years are as follows: Machine Hours Overhead Costs Year One 25,000 $550,000 Year Two 28,000 $590,000 Year Three 30,000 $600,000 Year Four 42,000 $640,000 Year Five 45,000 $670,000 Year Six 55,000 $710,000 Year Seven 65,000 $740,000 Year Eight 75,000 $770,000 Year Nine 70,000 $750,000 Year Ten 45,000 $680,000 Year Eleven 31,000 $620,000 Year Twelve 65,000 $730,000 Wherever needed, round your variable cost per hour to the nearest cent, and round your total fixed costs to the nearest dollar, please. Using the high-low method, develop and show the formula to predict yearly overhead cost. Your formula should be in the form Y = a + bx, where Y is the total predicted overhead cost for the year, a is total fixed costs, b is the variable overhead cost per machine hour, and X is the number of machine hours. Question 2 2 pts On an EXCEL spreadsheet, use the +SLOPE and the +INTERCEPT formulas to develop the regression formula to predict overhead costs. As in question 1, your formula should be in the format Y = a + bX. Copy/paste your spreadsheet into the answer space, please. Edit View cart Cormat Tabla Question 3 2 pts If Axl Rose estimates a level of 50,000 machine hours for Year Thirteen, compute the predetermined overhead rate per machine hour A. using the high-low method. B. using the regression method. Question 4 1 pts Refer to question 3. Which of the two methods is preferable? the regression method the high-low method Question 5 1 pts At any level of activity within the relevant range, if activity goes up by 2,000 machine hours, how much would we expect estimated overhead costs to increase using the regression method? Do not put a dollar sign in your answer. Question 6 1 pts Go back to your spreadsheet in question 2 and change the overhead costs for Year Eleven from $620,000 to $650,000. What is your new formula for predicting overhead costs using the +SLOPE and +INTERCEPT formulas? You do not have to copy/paste your spreadsheet again. Just give me the formula, please. Question 7 1 pts Refer to question 6. What effect would this change in Year Eleven have on the predictive formula using the high-low method