Exercise 2-9 (Part Level Submission)

Crane, Inc., has collected the following information on its cost of electricity:

		Machine Hours		Total Electricity Costs
January		500		$230
February		540		$280
March		340		$190
April		430		$200
May		640		$260
June		690		$330
July		300		$160
August		500		$250
September		220		$100
October		730		$320
November		820		$340
December		600		$300

(a)

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