QUESTION 21 Chevron Brown Industries gathered the following information on power costs and factory machine usage for the last six months: Month Power Cost Factory Machine Hours January $24,400 13,900 February 29,200 17.600 March 29,000 16,800 April 22,340 13,200 May 19,900 I 11,600 June 14,900 6,600 Instructions MUST SHOW ALL COMPUTATIONS. Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. (a) Using the high-low method, determine the variable utility cost element and fixed utility cost element 17 points (b) Test the accuracy of your answers in (a) for each of the estimated number of factory machine hours from January through June. Comment on your model. Was it above or below EACH estimate? 17 points (c) What is 1 advantage and 1 disadvantage of the High-Low Method? 9 points ii. Is there an alternative method that will provide better results than high-low? Discuss 9 points