Chen Company, which uses the high-low method to analyze cost behaviour, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow. (Click the icon to view the data.) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Chen Company uses 1,210 machine hours in a month, what will its total costs be? i X Data Table Requirement 1. What is the variable utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). Month Total Cost Machine Hours = Variable cost (slope) $ 2,991 940 January February Using the high-low method, the variable utilities cost per machine hour is $ (Round the variable cost to the nearest cent.) $ 3,760 1,170 March $ 3,480 1,085 Requirement 2. What is the fixed cost of utilities each month? Let's begin by determining the formula that is used to calculate the fixed cost component. April $ 3,780 1,230 May 4,500 1,360 - Fixed cost June 4,846 1,640 Using the high-low method, the fixed cost of utilities each month is $ (Round the total variable costs to the nearest whole dollar.) Print Done Requirement 3. If Chen Company uses 1,210 machine hours in a month, what will its total costs be? The total costs when 1,210 machine hours are incurred is $ (Round your interim and final calculations to the nearest whole dollar.)