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Need help with the rest of the requirements! Thanks in advance. Chen Company, which uses the high-low method to analyze cost behavior, has determined that

Need help with the rest of the requirements! Thanks in advance. image text in transcribed
Chen Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilies cost. The company's cost and machine hour usage data for the first six months of the year follow EEB (Click the icon to view the data.) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilites cost per machine hour? 2. What is the fixed cost of ubilities each month? 3. If Chen Company uses 1,260 machine hours in a month, what will its total costs be? Data Table Month Total Cost Machine Hours 1,040 1,130 1,010 1,200 1,350 1,460 Requirement 1. What is the variable utlities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). January . $ 3,450 February . 3,710 $ 3,467 March Change in cost Change in volumeVariable cost (slope) May June S 4,000 4,232 (Round the variable cost to the nearest cent.) Using the high-low method, the variable utilities cost per machine hour is $ Print Done

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