F. Determining the fixed and varlable costs. 6 pts Use the Hi-Low method to compute the cost formula for Electricity costs for the coming year. Costs in the prior year which are shown below. 4 pts Electricity Bill Machine Hrs volume Quarter 1 02 03 03 $5000 4000 5200 4500 1000 700 950 800 It probably was not, but assume the correct answer to the Hi-Lo problem above was: Electricity cost $2600+2.70x 2 pts Use this formula to compute estimated electricity costs at 600 machine hours