Month Total Cost Machine Hours January...... $ 3,400 1,070 February..... $ 3,790 1,180 March $ 3,467 1,010 April ... $ 3,700 1,260 May $ 4,300 1,320 June $ 4,232 1,460 Rafferty Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow: (Click the icon to view the data.) Read the requirements. Requirement 1. What is the variable utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). Variable cost (slope)