Using regression output, with Shoe Sold being the independent variable and Pre-Tax Profit being the dependent variable, develop TWO flexible budget formulas that can be used to estimate:

(i) Total Costs and

(ii) Pre-Tax Profit

Please use accounting terminology when applying it to the regression coefficients for both the above formulas. (Written answer - show evidence)

Price per shoe = 105

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.912572319
R Square	0.832788237
Adjusted R Square	0.825187702
Standard Error	7911.945252
Observations	24
ANOVA
	df	SS	MS	F	Significance F
Regression	1	6.86E+09	6858939675	109.56969	5.22E-10
Residual	22	1.38E+09	62598877.67
Total	23	8.24E+09
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	-27131.60721	8317.087	-3.262152799	0.0035681	-44380.2	-9883.03	-44380.2	-9883.03
X Variable 1	38.57091782	3.684807	10.4675542	5.223E-10	30.9291	46.21274	30.9291	46.21274