Vegas Company has the following unit costs: Variable manufacturing overhead Direct materials Direct labor Fixed manufacturing overhead Variable marketing and administrative $31 26 25 18 13 Vegas produced and sold 11,200 units. If the product sells for $136, what is the operating profit under full absorption costing? The College of Business at Northeast College is accumulating data as a first step in the preparation of next year's budget development. One cost that is being looked at closely is administrative costs as a function of student credit hours. Data on administrative costs and credit hours for the past thirteen months are shown below: Month July August September October November December January February March April May June July Total Average Administrative Costs $ 130,251 83, 373 226,150 216,774 258,453 185,399 219,897 245,570 209,842 192,115 250,928 171,178 128,737 $2,518,667 $ 193,744 Credit Hours 1,200 609 1,886 1,494 1,803 1,606 1,833 1,867 1,558 1,617 1,854 914 809 19,050 1,465 The controller's office has analyzed the data and has given you the results from the regression analysis: SUMMARY OUTPUT Regression Statistics Multiple R 0.9115513 R Square 0.830925708 Adjusted R Square 0.815555318 Standard Error 22,754.96587 Observations 13 ANOVA df 1 F Regression Residual Total SS MS 27,991,726,133 27,991,726,133 5,695,673,188 517,788,471.6 33,687,399, 321 -54.0601571 Significance F 1.4436E-95 11 12 Intercept X Variable 1 Coefficients 33, 100.32024 109.6253458 Standard Error 22,741.85454 14.90981739 t Stat 1.45548025 7.352561263 P-value Lower 95% Upper 0.17347479 -16,954.16413 83,154. 1.4436E-05 76.80905896 142.44 If the controller uses regression analysis to estimate costs, the cost equation for administrative costs is: Administrative Costs = $30.043.76 + ($13.00 Credit hours) Administrative Costs = -$16,303 + ($120.87 Credit hours). O Administrative Costs = $33,100.32 + ($109.63 Credit hours). Administrative Costs = $19,399.26 + ($14.79 Credit hours). O