Chesley corporation, which uses least-squares regression analysis, has derived the following regression equation for estimates of manufacturing overhead: y = 495,000 + 5.65x. which of the following statements is true if the primary cost driver is machine hours?

total manufacturing overhead is represented by the variable "x."

the company anticipates $495,000 of fixed manufacturing overhead.

"x" is commonly known as the dependent variable.

"x" represents the number of machine hours.

the company anticipates $495,000 of fixed manufacturing overhead and "x" represents the number of machine hours.