Pharoah, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 500 $240 February 540 $300 March 370 $180 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) Your Answer Correct Answer (Used) Your answer is partially correct. Identify the high and low points. Machine Hours High point 860 370 Low point 230 118 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 $ 4.14 per machine hour eTextbook and Media Attempts: 3 of 3 used(b) * Your answer is incorrect. Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost $ 18 eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer (c) Your answer is partially correct. Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ 0.4 X MH + $ 18 eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer (d) What is the expected electricity cost when 740 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.) Total cost $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit