Required information Excel Analytics 02-03 (Static) Job-Order Costing and Regression Analysis [LO2-1, LO2-2) [The following information applies to the questions displayed below] Landis 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 of actual (not estimated) data with respect to its electrical costs: Direct Labor-Hours Electrical Costs $ 76,200 83,800 81,000 Machine- Hours Week 1 7,700 8,910 Week 2 8,900 8,920 Week 3 8,600 8,870 Week 4 8,100 8,840 80,800 Week 5 7,600 8,990 79,400 Week 6 7,100 8,940 70,700 Week 7 5,500 8,870 61,500 Week 8 6,800 8,910 73,900 Total 60,300 71,250 $607,300 Using the data above, the company translated these actual amounts into annual estimates as follows: Direct Labor- Electrical Machine Hours Total for eight weeks (a) 60,300 Hours 71,250 Costs $ 607,300 52 weeks 8 weeks (b) Annual estimate (a) x 6.5 391,950 6.5 6.5 463,125 $3,947,450 (b) Click here to download the Excel template, which you will use to answer Requirements 4, 5 and 6, Click here for a brief tutorial on Regression Analysis in Excel. Excel Analytics 02-03 (Static) Part 4 4. Refer to the eight weeks of actual data included in the Excel template. a. Use Excel to prepare a scattergraph plot with direct labor-hours on the horizontal axis and electrical costs on the vertical axis. b. Use Excel to prepare a scattergraph plot with machine-hours on the horizontal axis and electrical costs on the vertical axis. c. Which of the two allocation bases (direct labor-hours or machine-hours) appears to be the better choice for assigning electrical costs to jobs? 4-c. The better choice for allocating electrical cost is