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. Month July August September October Machine Hours Utility Cost 33,750 $13,000 34,000 12,200 33,150 11,040 32,000 11,960 31,250 11,500 31,000 11,720 November December a. What is the cost formula for utility expense? Total cost = $ 0 + $ 0 MH b. What is the budgeted utility cost for September of the following year if 31,250 machine hours are projected? Budgeted utility cost $ 0