Oriole, Inc., has collected the following information on its cost of electricity:

Machine HoursTotal Electricity CostsJanuary500$230February540$320March350$190April430$220May650$300June700$330July320$180August510$260September230$132October750$360November850$380December600$340

(a)

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Your answer is correct.

Identify the high and low points.

Machine Hours

$

High pointenter the machine hours for high point

$

enter the high point in dollars

Low pointenter the machine hours for low point

$

enter the low point in dollars

Using the high-low method, compute the variable cost of electricity per machine hour.(Round unit cost to 2 decimal places, e.g. 52.75.)

Variable cost$

enter the variable cost per machine hour in dollars

per machine hour

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(b)

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Your answer is incorrect.

Compute the total fixed cost of electricity.(Round answer to 2 decimal places, e.g. 52.75.)

Fixed cost$

enter the fixed cost amount in dollars