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 bled the following information: Direct Tons Mined Labor-Hours Utilities Cost 7,000 Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 35,000 22,000 40,000 32,000 5,000 6,000 8,000 $ 70,000 $ 65,000 $ 80,000 $ 95,000 38,000 45,000 50,000 48,000 16,800 15,800 14,800 17,800 $120,000 $125,000 $ 105,000 $ 140,000 Required: 1-a. Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis. Required information Required: 1-a. Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis. Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot tons mined on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, click on the point and enter the values of x and y 4. To remove a point from the graph, click on the point and select delete option. aces Year 1 st quarter $160,000 Yeart.nd quarter $140,000 $120,000 Year 1 - 3rd quarter 100,000 $80,000 Year 1.4 quarter Utilities 5560,000 reset 1-b. 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.) Y = 2-a. Using direct labor-hours as the independent variable, prepare a scattergraph that plots direct labor-hours on the horizontal axis and utilities cost on the vertical axis. dum Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot direct labor-hours on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option. ances Year 1 - 1st quarter $180,000 Year! 2nd quarter $150,000 $120,000 Year 1.3 quarter Year 1-6 Quarter Utilities 560.000 Year 2.1 quarter int rences 2-b. Using the least-squares regression method, estimate the variable utilities cost per direct labor-hour and the total fixed utilities cost per quarter. Express these estimates in the form Y = a + bx (Round the Variable cost to 2 decimal places and Fixed Cost to the nearest whole dollar amount.) Y 3. Would you recommend that the company use tons mined or direct labor-hours as a base for planning utilities cost? Tons mined Direct labor-hours 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 bled the following information: Direct Tons Mined Labor-Hours Utilities Cost 7,000 Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 35,000 22,000 40,000 32,000 5,000 6,000 8,000 $ 70,000 $ 65,000 $ 80,000 $ 95,000 38,000 45,000 50,000 48,000 16,800 15,800 14,800 17,800 $120,000 $125,000 $ 105,000 $ 140,000 Required: 1-a. Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis. Required information Required: 1-a. Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis. Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot tons mined on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, click on the point and enter the values of x and y 4. To remove a point from the graph, click on the point and select delete option. aces Year 1 st quarter $160,000 Yeart.nd quarter $140,000 $120,000 Year 1 - 3rd quarter 100,000 $80,000 Year 1.4 quarter Utilities 5560,000 reset 1-b. 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.) Y = 2-a. Using direct labor-hours as the independent variable, prepare a scattergraph that plots direct labor-hours on the horizontal axis and utilities cost on the vertical axis. dum Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot direct labor-hours on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option. ances Year 1 - 1st quarter $180,000 Year! 2nd quarter $150,000 $120,000 Year 1.3 quarter Year 1-6 Quarter Utilities 560.000 Year 2.1 quarter int rences 2-b. Using the least-squares regression method, estimate the variable utilities cost per direct labor-hour and the total fixed utilities cost per quarter. Express these estimates in the form Y = a + bx (Round the Variable cost to 2 decimal places and Fixed Cost to the nearest whole dollar amount.) Y 3. Would you recommend that the company use tons mined or direct labor-hours as a base for planning utilities cost? Tons mined Direct labor-hours