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2. Machine Master, Inc. had the following data regarding monthly power costs:MonthMachine hoursPower costJan300$650Feb600720Mar400685Apr200640May3506751) Use the high-low method, estimate the cost formula regarding monthly power

2. Machine Master, Inc. had the following data regarding monthly power costs:MonthMachine hoursPower costJan300$650Feb600720Mar400685Apr200640May3506751) Use the high-low method, estimate the cost formula regarding monthly power costs2) Assume that management expects 500 machine hours in May. Calculate Mays power cost using machine hours as the basis for prediction.

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