Jonathan Macintosh is a highly successful Pennsylvania orchardman who has formed his own company to produce and package applesauce. Apples can be stored for several months in cold storage, so applesauce production is relatively uniform throughout the year. The recently hired controller for the firm is about to apply the high-low method in estimating the companys energy cost behavior. The following costs were incurred during the past 12 months: Month Pints of Applesauce Produced Energy Cost January 118,000 $ 71,500 February 76,000 66,400 March 79,000 68,600 April 85,000 69,300 May 103,000 70,000 June 109,000 70,700 July 133,000 71,200 August 103,000 69,700 September 103,000 70,300 October 97,000 69,400 November 136,000 73,600 December 130,000 71,850 Required: 1. Use the high-low method to estimate the companys energy cost behavior and express it in equation form. Use the formula Y = a + bX, where Y denotes energy cost for a month and X denotes pints of applesauce produced. 2. Predict the energy cost for a month in which 87,000 pints of applesauce are produced.