Method of Least Squares, Developing and Using the Cost Formula from monthly data were used for the regression. The following computer output was received:

Intercept

$209,400$

Slope

$310$

The cost driver used was number of parts inspected.

Required:

What is the cost formula?

Total cost of receiving per month.

Independent variable

Dependent variable

Variable rate per professional hour

per part inspected

Fixed cost per month

$3.$ Using the cost formula, predict the cost of receiving for a month in which $9,500$ parts are inspected.

Total cost of receiving $=$$