Problem 22-01A a-c The controller of Pharoah Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs Total Total Electricity Costs Machine Hours anuary February March April May June July August September October November December $2,570 2,910 3,580 4,590 3,210 4,910 4,140 3,880 5,090 4,270 3,260 6,490 250 320 460 690 420 790 625 520 675 630 320 810 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 460 machine hours? Electricity costs By what amount does this differ from March's observed cost for 460 machine hours? Amount differ What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs By what amount does this differ from June's observed cost for 790 machine hours? Amount differ