Benjamin Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Revenue Employee salaries and wages Refurbishing materials Other expenses Variable Element Fixed Element per Month per Container Refurbished $ 5,400 $ 58,300 $ 1,000 $ 700 $ 31,200 When the company prepared its planning budget at the beginning of March, it assumed that 26 containers would have been refurbished. However, 23 containers were actually refurbished during March. The amount shown for "Refurbishing materials" in the planning budget for March would have been closest to: $18,200 $16,700 $16,100 $18,878