The following excerpt from a regression analysis report describes the relationship between a production cost for Myers Industries, Inc. and labor hours:

Regression Statistics

• R-Sq. = 0.228
• Std. Error = 36.627
• Observations = 1 2

Coefficients

• Intercept = 17,537.116
• Labor Hrs = 80.576

What are the total expected production costs if the level of activity is 1,000 labor hours?

		$98,113
		$80,576
		$36,627
		$17,537