Mark owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2.500 occurred in August when the machines worked 1200 machine hours The lowest sit ba of $2,300 occurred in December when the machines worked 600 machine hours Read the requirements Requirement 1. Use the high low method to calculate the variable cost per machine hour and the total foredulity cost First, calculate the variable cost per machine hour Select the formula labels, then enter the amounts and compute the variable cost per machine hour (Use the high-low method. Round your answer to the nearest cent) - Variable cost per machine hour Calculate the total fixed cost Select the formula labels then enter the amounts and compute the total fored cost (Use the highest point) Total foxed cost Requirement 2. Show the equation for determining the total utility cost for the machine shop Totally cost Requirement 3. f Mark anticipates using 300 machine hours in January, predict the shop's total utility bill using the equation from Requirement 2 Select the items needed and compute the shop's total utility bill predicted for January Requirements 1. Use the high-low method to calculate the variable cost per machine hour and the total fixed utility cost. 2. Show the equation for determining the total utility cost for the machine shop. 3. If Mark anticipates using 800 machine hours in January, predict the shop's total utility bill using the equation from Requirement 2 Print Done