Montel owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2.400 occurred in August when the machines worked 1,000 machine hours The lowest utility bill of $2.200 occurred in December when the machines worked 500 machine hours Read the teements Requirement 1. Use the high-low method to calculate the variable cost per machine hour and the total feed 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 cent.) Lowest utility cost Variable cost per machine hour Calculate the total bed cost. Select the formula labels, then enter the amounts and compute the total fixed cost (Use the highest point) Choose from any list or enter any number in the input felds and then continue to the next question Montel owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $2,400 occurred in August when the machines worked 1.000 machine hours The lowest utility bill of 52,200 occurred in December when the machines worked 500 machine hours Read the recitements LINEN LAURA Totalfoved cod Requirement 2. Show the equation for determining the total utility cost for the machine shop Total utility cost Requirement 3. If Montol anticipates using 700 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 Choose from any list of enter any number in the input Delds and then continue to the next question, i 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 Montel anticipates using 700 machine hours in January, predict the shop's total utility bill using the equation from Requirement 2. Print Print Done Done