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 Tons Mined Labor-Hours Utilities Cost Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 22,000 15,000 27,000 19,000 5,700 3,700 4,700 6,700 $ 57,000 $ 52,000 $ 67,000 $ 82,000 25,000 32,000 37,000 35,000 10,700 9,700 8,700 11,000 $107,000 $112,000 $ 92,000 $127,000 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. 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 ontion. 20. U ULLIQUUIUIS O LICHTEIL VORQUIE CUCIE O LOUTUIGUI LOL VIVLS UHELL TOVUIUIS VUIE HUILUIHI GAIS Required information 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. Year 1.1 quarter $140,000 Yow 1-and Quarter $120,000 $100,000 Year 1. Srd Quarter Ubilities Cost Year. quare 110,000 $10,000 Year 2.1 $20,000 Yow 2nd Quarter 50 2,000 4,000 6.000 8.000 10.000 12.000 14.000 Year 2-3rd quarter Direct Labor Hours 29 VER Required information $40.000 Year 2- 1st quarter $20,000 Year 22nd quarter $0 0 2,000 4,000 6.000 8,000 10,000 12,000 14,000 Year 2-3rd quarter Direct Labor-Hours reset 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= 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 Tons Mined Labor-Hours Utilities Cost Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth 22,000 15,000 27,000 19,000 5,700 3,700 4,700 6,700 $ 57,000 $ 52,000 $ 67,000 $ 82,000 25,000 32,000 37,000 35,000 10,700 9,700 8,700 11,000 $107,000 $112,000 $ 92,000 $127,000 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. 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 ontion. 20. U ULLIQUUIUIS O LICHTEIL VORQUIE CUCIE O LOUTUIGUI LOL VIVLS UHELL TOVUIUIS VUIE HUILUIHI GAIS Required information 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. Year 1.1 quarter $140,000 Yow 1-and Quarter $120,000 $100,000 Year 1. Srd Quarter Ubilities Cost Year. quare 110,000 $10,000 Year 2.1 $20,000 Yow 2nd Quarter 50 2,000 4,000 6.000 8.000 10.000 12.000 14.000 Year 2-3rd quarter Direct Labor Hours 29 VER Required information $40.000 Year 2- 1st quarter $20,000 Year 22nd quarter $0 0 2,000 4,000 6.000 8,000 10,000 12,000 14,000 Year 2-3rd quarter Direct Labor-Hours reset 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=