Mike owns a machine shop in reviewing the shop's utility bills for the past 12 months, he found that the highest bill of 52.600 occurred in August when the machines worked 1.400 machine hours. The lowest utility bill of $2,300 occurred in December when the machines worked 900 machine hours. Read the requirements Requirement 1. Use the high-low method to calculate the variable cost per machine hour and the total fired utility 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 cont.) Change in total costs Change in volume of activity Variable cost per machine hour 300 500 Calculate the total feed cost Select the formats labels, then enter the amounts and compute the total fixed cost. (the the highest port) Total variable cost 0.60 Toale con Total med cost 2500