Coughlin Company, which uses the high-low method to analyze cost behavior, 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 Coughlin Company uses 1,250 machine hours in a month, what will its total costs be? i 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). Change in cost / Change in volume = Variable cost (slope) Machine Hours 1,040 1,120 (Round the variable cost to the nearest cent.) Month January ......$ February......$ March........$ April.........$ May..........$ .....$ Total Cost 3,460 3,740 3,388 3,720 4,200 4,076 1,030 Using the high-low method, the variable utilities cost per machine hour is $ 1,260 1,320 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 1,460 Total utilities cost - Total variable cost = Fixed cost Print Done Using the high-low method, the fixed cost of utilities each month is $ 1,740 Requirement 3. If Coughlin Company uses 1,250 machine hours in a month, what will its total costs be? (Round the variable cost per unit to two decimal places and round your total costs calculation to the nearest whole dollar.) The total costs when 1,250 machine hours are used is $