Exercise 5A-1 (Algo) High-Low Method [LO5-10] The Cheyenne Hotel in Big Sky, Montana, 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 for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Occupancy- Days Electrical Costs Month January 3,410 $ 13,889 February 3,250 $13,008 March 4,470 $ 15,158 April 1,940 $ 8,342. May June 1,050 450 $ 4,515 $1,935 July 3,270 $ 13,094 August 4,510 $ 15,333 September 1,350 $ 5,805 October 1,640 $ 7,052 November 1,860 $ 7,998 December 2,970 $ 12,578 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost element answer to nearest whole dollar amount.) Variable cost of electricity per occupancy-day Fixed cost of electricity per month