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What are total expected fixed production costs

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Reference no: EM132810067

The following excerpt from a regression analysis report describes the relationship between a production cost for Myers Industries, Inc. and labor hours:

Regression Statistics

R-Sq. = 0.228
Std. Error = 36.627
Observations = 12

Coefficients

Intercept = 17,537.116
Labor Hrs = 80.576

Problem 1: To the nearest dollar, what are total expected fixed production costs if the level of activity is 1,000 labor hours?

Option 1: $175,370

Option 2: $80,576

Option 3: $36,627

Option 4: $17,537

Reference no: EM132810067

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