Question 2 The following six months of data were collected on electricity cost and the number of machine hours in a factory. Month B June July August September October November Required: Using the high-low method, compute the variable rate for the electricity cost. Using the high-low method, compute the fixed cost of electricity. Estimate the total electricity cost to be incurred in December if 5,300 machine hours are incurred. Electricity Machine hours cost $25,160 4,500 26,170 4,810 27,250 5,120 26,680 5,010 27,950 5,430 27,500 5,190

4 Question 2 . 6. The following six months of data were collected on electricity cost and the number of machine hours in a factory. \begin{tabular}{|c|c|c|} \hline \begin{tabular}{c|} 8 \\ 9 \end{tabular} & Month \\ \hline 10 & \\ \hline 11 & lune \\ 17 & July \\ \hline \end{tabular} 12 July 13 August 14 September 15 October 16 Nowember 17 18 Required: 19 Using the high-low method, compute the variable rate for the electricity cost. 20 21 Using the high-low method, compute the fixed cost of electricity. 23 Estimate the total electricity cost to be incurred in December if 5,300 machine hours are incurred