erial Accounting || fall20 XYZ Company uses the high-low method to analyze mixed costs. During the year, the highest level o activity was in May and the lowest level of activity was in February. In February, the company worked 11.00 hours and had a total cost of $46,300. In May, the company worked 27,000 hours and had a to cost of $110,300. What is the estimated total cost at an operating level of 22,000 hours? Select one: O a. None of the answers given O b. $94,300 O c. $49,050 O d. $98,300 e. $90,300 W Which methods to approximate cost function involves a detailed analysis of what cost behavior shoul be based on evaluation of the production methods to be used the materials specifications, labor requirements, equipment usage, production efficiency, power consumption, and so on