Problem 18-01A The controller of Wildhorse Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours $2,450 230 3,060 380 3,520 4,760 3,190 January February March April May June July August September October November December 650 540 4,910 4,030 3,870 5,040 4,260 3,250 6,580 610 380 Determine the fixed- and variable-cost components using the high-low method. Fixed-costs $ Variable-costs 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 LINK TO TEXT LINK TO VIDEO What electricity cost does the cost equation estimate for a level of activity of 800 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 800 machine hours? Amount differ Click if you would like to Show Work for this question: Open Show Work