EXERCISE 5A-1 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. Month Occupancy-Days Electrical Costs January . ... . . . 1,736 $4, 127 February ... . . 1,904 $4,207 March. . . . 2,356 $5,083 April . 960 $2,857 May .. . . 360 $1,871 June . .... 744 $2,696 July 2,108 $4,670 August ... . 2,406 $5, 148 September .. . . . 840 $2,691 October . . . .. 124 $ 1,588 November. . . . 720 $2,454 December.: . 1.364 $3,529 Required: 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. What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month