Required information The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes. The company's cost analyst has concluded that utilities cost is a mixed cost, and he is attempting to find a base that correlates with the cost. The controller has suggested that tons mined might be a good base to use in developing a cost formula. The production superintendent disagrees, she thinks that direct labor-hours would be a better base. The cost analyst has decided to try both bases and has assembled the following Information: Tons Mined Direct Labor. Utilities Hours Cost Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 31,000 20,880 36,880 28,000 6,600 4,608 5,600 7,600 $ 66,000 $ 61,800 $ 76,000 $ 91,000 34,800 41,800 46,000 44,000 13,200 13,800 11,200 14,200 $116,000 $121,000 $191,000 $136,000 Required: 1. Using the least-squares regression method, estimate the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express these estimates in the form Y = a + bx (Round the Variable cost per unit to 2 decimal places and Fixed Cost to the nearest whole dollar amount.) X 5: Homework Saved 4 ! t 1 of 3 Required information The Hard Rock Mining Company is developing cost formulas for management The company's cost analyst has concluded that utilities cost is a mixed cost, ar correlates with the cost. The controller has suggested that tons mined might b formula. The production superintendent disagrees, she thinks that direct labor analyst has decided to try both bases and has assembled the following inform ts Direct Labor- Utilities Hours Cost Tons Mined eBook Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 31,000 20,000 36,000 28,000 6,600 4,600 5,600 7,600 $ 66,000 $ 61,000 $ 76,000 $ 91,000 Print 34,000 41,000 46,000 44,000 13,200 13,800 11,200 14,200 $116,000 $121,000 $101,000 $136,000 Herences Required: 1. Using the least-squares regression method, estimate the variable utilities cost pert quarter. Express these estimates in the form Y = a +bX. (Round the Variable cost per nearest whole dollar amount.) Y =