High-low method; flexible budget Tijuana Tile has gathered the following information on its utility cost for the past six months. Machine Hours Utility Cost 1,300 $2,068 1,700 2,365 1,250 1,980 1,800 2,490 1,900 1,500 2,552 2,178 a. Using the high-low method, determine the cost formula for utility cost. y= $ 880 + $ 0.88 per MH b. Prepare a flexible budget with separate variable and fixed categories for utility cost at 1,325, 1,500, and 1,675 machine hours. 1,325 1,500 1,675 Variable utility cost $ 0 $ 0 $ 0 Fixed utility cost Expected total utility cost $ 880 880 880 0 $ 0 $ 0