Jackson Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow (Click the icon to view the data.) Read the requirements Requirement 1. What is the variable utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). = Variable cost (slope) Data table (Round the variable cost to the nearest cent.) Using the high-low method, the variable utilities cost per machine hour is Requirement 2. What is the fixed cost of utilities each month? Let's begin by determining the formula that is used to calculate the fixed cost component Month Total Cost Machine Hours January... 3,470 1,080 February 3,740 1,180 March 3,574 1,030 M=U Fixed cost April. S 3,770 1,260 May $ 4,300 1,310 Using the high-low method, the fixed cost of utilities each month is June 4,294 1,430 Requirement 3. If Jackson Company uses 1,220 machine hours in a month, what will its total costs be? (Round the variable cost per unit to two decimal p The total costs when 1,220 machine hours are used is Print Done - X