Coughlin Compapy, which uses the highlow method to analyze cost behavioc, has detormined that machine hours best predict the compary's total utilies cost. The company's cost and machine hour usage data for the frst six months of the year follow: (Clck the icon to view the data) Read the requitemerts. Requirement 1. What is the variable utines cost per machine hour? Lers begin by determining the formula that is used to calculate the variable cost (silope). change in cost Change in volume (Round the variable cost to the nearost cont) Using the high-low method, the variable utilies cost per machine hour is Requirement 2 . What is the fixed cost of usilfes each month? Lefs begin by deternining the formula that is used to calculate the foxed cost component. + Total vanable cost Using the high-low method, the fxed cost of utlities each month is Coughin Company, which uses the high-iow method to analyze cost behavior, has determined that machine hours best predict the company's total utilites cost. The company's cost and machine hour usage data for the frst six months of the year follow: (Click the icon to viow the data) Read the rectinements. Requirement 1. What is the variable utilies cost per machine hour? Lefs begin by determining the formula that is used to calculate the variable cost (slope) Change in cost (Round the variable cost to the nearest cent) Using the highlow mothod, the variable utlities cost per machine hour is Requirement 2. What is the fored cost of utilities each month? Lefs begin by determining the formula that is used to calculate the fixed cost component. Total utities cost Fotal variable cost Requirements Using the high-low method, answer the following questions: 1. What is the variable utilises cost per machine hour? 2. What is the fxied cost of utities each month? 3. If Coughin Company uses 1,220 machine hours in a month, what will its total costs be? Using the high-low method, the foed cost of uslities each month is Data table