Burmer Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined. Data regarding the machine hours and maintenance costs for the last year and the results of the regression analysis are as follows:
A staff assistant has run regression analyses on the data and obtained the following output using Excel:
REGRESSION ANALYSIS
Y (Dependent) Variable: Maintenance Cost
X (Independent) Variable: Maintenance Hours
Using regression analysis, what is the estimated maintenance expense for a month that the firm expects to operate 600 machine hours (round to nearest whole dollar) ?
Definitions:
Congress
The national legislative body of a country, typically consisting of two houses: the Senate and the House of Representatives in the United States.
Pocket Veto
A legislative maneuver by which a president or governor may indirectly veto a bill by taking no action on it, and if Congress adjourns during the time allowed for the bill's signing, the bill dies.
Legislative Session
An official period of time designated by a legislative body to conduct its business, including the passing of laws and other legislative activities.
Presidential Veto
is the power of the President to reject a bill passed by Congress, preventing it from becoming law unless Congress votes to override the veto.
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