Coderre Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During July, the company budgeted for 7,800 units, but its actual level of activity was 7,780 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for July: Data used in budgeting: 
Actual results for July: 
The direct materials in the flexible budget for July would be closest to:
Definitions:
Linear Regression
A statistical method that models the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data.
F Test
A statistical test used to determine whether there are significant differences between the variances of two or more groups.
T Test
A statistical test used to determine if there is a significant difference between the means of two groups, which may be related in certain features.
Least Squares Line
A regression line calculated using the least squares method, aiming to minimize the squares of the differences between observed and predicted values.
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