Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested the use of linear regression to derive an equation for maintenance hours and costs Data regarding the maintenance hours and costs for the last year and the results of the regression analysis follow cost Mar 530 150 Maintenance Month Machine Hours Jan. $ 5,200 440 Feb. 4,000 330 4,600 420 Apr 3,820 330 May 5,350 June 3,960 310 July 4,030 310 Aug 1,470 Sept 5,260 500 Oct. 5,050 450 4,300 360 Dec. 4.160 330 Sum $55,200 4,790 Average $ 4,500 $ 399 Average cost per hour $ 12.00 a intercept) $1,602.20 b (coefficient) 7.5101 standard error of the estimate 184.2279 R-squared 0.9211 t-value for b 10.021 NOV Based on the data derived from the regression analysis. 420 maintenance hours in a month mean that maintenance costs should be budgeted to the nearest dollar at Multiple Choice $4,940. $3,553 $4,960. $4,756 None of these answer choices are correct