Exercise 22-18 a,c The controller of Oriole Industries has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Machine Hours Electricity Costs $2,160 2,970 3,540 4,640 3,220 4,910 4,120 3,800 5,160 4,340 3,300 6,070 210 570 675 Determine the fixed- and variable-cost components using regression analysis (We recommend the use of Excel.) (Round fixed cost to 3 decimal places e.g. 1.252 and variable cost to S decimal places e.g. 1.25125.) Fixed costs Variable-cost July August September October 4,120 3,800 5,160 570 675 600 360 720 3,300 6,070 Determine the fixed- and variable-cost components using regression analysis (We recommend the use of Excel.) (Round flixed cost to 3 decmal places e-g. 1.252 and varlable cost to 5 decimal places e.g. 1.25125.) Fixed costs Variable-cost What electricity cost does the cost equation estimste for a level of activity of 500 machine hours? (Round answer to 2 decimal places e.g. 1.25. Electricity costs By what amount does this differ from March's observed cost for 500 machine hours? (Round answer to 2 decimal places e.g. 1.25.) Amount differ