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Michael owns a machine shop. In reviewing the shop's utility bills for the past 1 2 months, he found that the highest bill of $
Michael owns a machine shop. In reviewing the shop's utility bills for the past months, he found that the highest bill of $ occurred in August when the machine worked machine hours. The lowest utility bill of $ occurred in December when the machines worked machine hours. Use the highlow method to calculate the variable cost per machine hour and
the total fixed utility cost.
Show the equation for determining the total utility cost for the machine shop.
If Michael anticipates using machine hours in January, predict the shop's
total utility bill using the equation from Requirement
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