4 of 5 -16 The controller of Pharoah Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Month {:[" Total "],[" Maintenance Costs "]:} {:[" Total "],[" Machine Hours "]:} January $2,740 2,950 February 3,150 4,050 March 4,000 6,000 April 4,550 8,000 May 3,260 5,200 June 5,332 8,350 (a1) Determine the variable-cost component using the high-low method. (Round answer to 2 decimal places e.g. 12.25.)