The Franklin Furniture Co. builds its products in a highly automated facility, and has decided to predict future utility costs by using machine hours. The company has gathered the following data from the prior six months:

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(a) Using a computer spreadsheet program, enter the above data and write a formula to predict future utility costs using the high-low method. Enter the cell addresses for the high and low points in the formula, not the values in the cells. Can you use the spreadsheet program to help identify the high and low points?

(b) Use the program to predict utility costs for July if 6,000 machine hours are anticipated.

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Machine Utility Month Hours Costs January 3,000 $355 February 8,000 740 March 5,700 600 April 9,000 915 May 7,000 650 June 3,500 340