Crane, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 500 $240 February 540 $280 March 370 $190 April 470 $210 May 670 $260 June 710 $330 July 300 $170 August 520 $280 September 260 $140 October 740 $340 November 860 $350 December 600 $320(a) Identify the high and low points. Machine Hours $ High point $ Low point $ Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.) Variable cost $ per machine hour (b) Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ X MH + $(d) What is the expected electricity cost when 740 machine hours are used? (Round answer to 2 decimal places, e.g. 52. 75.) Total cost $