QUESTION 2 Steve Richardson, management accountant at Jupiter Lid, is examining the behaviour of quarterly maintenance costs for budgeting purposes. Steve collects the following data on machine hours worked and maintenance costs for the past eight quarters: Quarter Machine-hours Maintenance costs 1,200 $2.150 750 1.500 1.100 2.000 1.500 2.700 900 1.450 1,490 2.800 1.300 2.250 1.000 1,950 Required: a. Estimate the cost function for the quarterly data using the high-low method. b. Steve anticipates that Jupiter Ltd will operate machines for 1,300 hours in quarter 9. Calculate the predicted maintenance costs in quarter 9 using the cost function estimated in requirement (a)