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Arthur Corporation used regression analysis to predict the annual cost of indirect materials. The results...

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Accounting

Arthur Corporation used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced

Constant $23000
Standard error of Y estimate $500
R2 0.743
Number of observations 645
X coefficient(s) 23
Standard error of coefficient(s) 1.7

If the company expects to produce 15,000 units, what is the estimated cost of indirect materials?

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