What is the closest to the total cost if the firm uses 6,000 machine hours? Explain.

a) $6,538.90

b) $2,945.94

c) $1,365.59

d) $7,257.49

15) Wallace Incorporated wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here); SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.991108748 0.982296551 0.977870689 67.58593536 6 ANOVA df MS Significance F 1013811.899 1013811899 221.9446735 18271.43463 4567.858659 1032083.333 0.00011823 Regression Residual Total Lower 95% 2407.022299 0.584669919 P-value Intercept X Variable 1 Coefficients Standard Error 2945.94652 0.718590932 tStat 194.105844 15.17701095 0.000109885 0.04823467 14.89780767 0.00011823