E3.25 LO 3.9 Estimating cost behaviour; high-low method: manufacturer Daisy Wong is the accountant for the Multidex Manufacturing Company. She has been asked by one of Multidex Manufacturing's senior managers to provide an estimate of the firm's utilities costs using the high-low method. Daisy has identified machine hours as the most suitable cost driver. The following costs were incurred during the previous 12 months: Month January February Machine hours 105000 Utilities cost March 63000 66000 $70200 66300 66000 April 72000 67 350 May 90000 68 700 June 96000 70050 July 120000 84000 August 90000 68400 September 90000 69000 October 84000 68100 November 123000 72300 December 117000 74850 Required 1. Use the high-low method to estimate the company's utilities cost behaviour and express it in equation form. 2. Predict the utilities cost for a month in which 78000 machine hours are used.