farl File Edit View History Bookmarks Window Help ezto.mheduca nts- ACCT201-006 (Fa18): INTRO Exercise 1-5 High-Low Method [LO1-5] 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 out for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer Occupancy- Electrical Days January February March April May June July 1,736 ,904 2,356 960 360 744 2,108 2,406 840 124 720 1,364 Costs $4.127 $4,207 $5,083 $2,857 $1,871 $2,696 $4,670 $5,148 $2,691 $1,588 $2,454 $3,529 September October November December 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) Electrical Occupancy Days Costs High activity level Low activity level Change per occupancy-day Variable cost Fixed cost element