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

		Machine Hours		Total Electricity Costs
January		500		$250
February		540		$300
March		370		$210
April		440		$220
May		680		$290
June		730		$330
July		330		$180
August		530		$260
September		230		$118
October		740		$340
November		860		$370
December		600		$340

(a)

Identify the high and low points.

		Machine Hours		$
High point		_________		$_________
Low point		_________		$_________

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

$________ per machine hour in dollars per machine hour