O CALCULATOR Problem 5-1A The controller of Cullumber Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $2,700 290 February 2,980 350 March 3,590 480 April 4,620 690 May 3,160 460 June 5,000 780 July 4,110 620 August 3,910 510 September 5,120 680 October 4,200 620 November 3,200 350 December 6,270 800 Determine the fixed- and variable-cost components using the high-low method. Fixed-costs Variable-costs 7 earch Help System Announcements What electricity cost does the cost equation estimate for a level of activity of 480 machine hours? Electricity costs $ By what amount does this differ from March's observed cost for 480 machine hours? Amount differ $ What electricity cost does the cost equation estimate for a level of activity of 780 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 780 machine hours? Amount differ $ Click if you would like to Show Work for this question: Open Show Work