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: Direct Utilities Quarter Tons Mined Labor-Hours Cost Year 1: First 22,000 5,700 $ 57,000 Second 15,000 3,700 $ 52,000 Third 27,000 4,700 $ 67,000 Fourth 19,000 6,700 $ 82,000 Year 2: First 25,000 10,700 $107,000 Second 32,000 9,700 $112,000 Third 37,000 8,700 $ 92,000 Fourth 35,000 11,000 $127,000 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. 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 v. 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 Utilities Cost 140000 Tools 120000 Year 1 - 1st Year 1 - 2nd 100000 80000 Year 1-3rd Year 1. 4th ou 60000 40000 Year 2. 1st Year 2 - 2nd 20000 Required information 40000 Year 2-3rd Year 2. 4th ou 1 of 3 20000 0 5 10000 30000 20000 40000 50000 60000 Tons Mined eBook Print oferences 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.)