3 XYZ Company uses the high-low method to analyze mixed costs. During the year, the highest level of activity was in May and the lowest level of activity was in February. In February, the company worked 11,00 hours and had a total cost of $46,300. In May, the company worked 27,000 hours and had a total cost of $110,300. What is the estimated total costat an operating level of 24,000 hours? of Select one: a. $102,300 b. $94,300 c. $49,550 d. None of the answers given e. $98,300 24 Regression analysis is better than the high-low method of cost estimation because regression analysis: Out of Select one: a. Can provide greater precision and reliability b. Fits data into a mathematical equation. c. Less complicated d. uses the highest and the lowest activity volumes TH