Michael owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2,700 occurred in August when the machines worked 1,000 machine hours. The lowest utility bill of $2,400 occurred in December when the machines worked 500 machine hours. 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 Michael anticipates using 800 machine hours in January, predict the shop's total utility bill using the equation from Requirement 2