High-Low Method as oflidy lin W. Wrut is the coa formuly for vatily experide? High-Lew Method as of jidy 1. W. What is tre cost formula for unitity expense? Total cost =5 MH 2. What is the budjteded uilify tosi for September of the following year if 62500 machine houn are projected ? High-Low Method Information about Indiana Industrial's utility cost for the last six months of the current year follows. The high-low method will be used to develop a cost formula to predict next year's utility charges, and the number of machine hours has been found to be an appropriate cost driver. Data for the first half of the year are not being considered because the utility company imposed a significant rate change as of July 1. a. What is the cost formula for utility expense? Total cost =$+$MH b. What is the budgeted utility cost for September of the following year if 62,500 machine hours are projected