Schotte Manufacturing Company uses two different independent variables (machine hours and number of packages) in two different equations to evaluate costs of the packaging department. The most recent results of the two regressions are as follows: Machine hours: Variable Coefficient Standard Error t-Value Constant $748.30 $341.20 2.19 Independent Variable $52.90 $35.20 1.50 r² = 0.33 Number of packages: Variable Coefficient Standard Error t-Value Constant $242.90 $79.04 3.24 Independent Variable $5.60 $2.00 2.80 r² = 0.73 Given the data above and your understanding of the best cost driver to use in a regression analysis, determine the best estimated costs of the packaging department for the next month, if the Schotte Manufacturing Company expects to process 10,000 packages while using 500 machine hours.

Question 48 options:

	$17,941.20
	$20,075.04
	$27,198.30
	$56,242.90
	none of the above.