EXERCISE 2-4 High-Low Method (L04) season and in the summer. Occupancy- Days Electrical Costs Month 2,604 2,856 3,534 1,440 540 January February March.. April May June July August September... 1,116 3,162 3,608 1,260 186 1,080 $6,257 $6,550 $7,986 $4,022 $2,289 $3,591 $7,264 $8,111 $3,707 $1,712 $3,321 $5,196 October November December ...... 2,046 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. Round off the fixed cost to the nearest whole dollar and the variable cost to the nearest whole cent. 2. What other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month? The Edelweiss Hotel in Vail, Colorado, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented out for one day. The hotel's business is highly seasonal, with peaks occurring during the ski