Use OLS to estimate consumption, with income, age and age squared as independent variables. a)If heteroskedasticity is present, describe two desirable properties of the OLS point estimates. b)Describe one desirable property that the OLS point estimates do not have. c)Briefly explain why OLS estimation does not provide valid confidence intervals or hypothesis tests.

Direct materials (4.2 x $15) $ 63direct labor ($12 x 17.5) $210manufacturing overhead ($2.40 x 17.5) $42total job cost $ 315dougan, inc. allocates overhead based on a predetermined overhead rate of $2.40 per direct labor hour. employees are paid $12.00 per hour. job 24 requires 4.2 pounds of direct materials at a cost of $15.00 per pound. employees worked a total of 17.5 hours to complete the job. actual manufacturing overhead costs totaled $80,000 for the year for the company. how much is the cost of job 24?